EU W Bearish Idea 3/17/24

2024年3月17日

There is a chance that price could continue bullish from here, BUT I can NOT ignore the fact that there is a weekly head and shoulder possibly printing. Which will send price bearish for quite a bit.

On top of that, price has not really broken this area of price since 2021. This is a key level of price for EU. There has been 4 bearish engulfing candles in this area on the monthly, plus if you FIB the last bearish swing on the monthly price is at the 50% area of that FIB.

So I am setting alerts and watching price to see which way it wants to go.

2024年4月13日

交易進行

This head and shoulder is still playing out on the weekly. I finally caught the entry this week and am holding over the weekend. Caught a few losses as well trying to enter on the 5m, BUT that 4H entry has held since I got in it. Gotta love the higher timeframe entries!!
4H chart:
W chart:

2024年4月17日

交易進行

Price is pulling back, BUT that drop has been SWEET!! Held for 8 Days 2m with trailing on the 4H

2024年4月27日

交易進行

Sell idea is still active and running

2024年5月19日

交易進行

This idea may probably be over at this time. Last week closed above the previous weekly highs. This current week will show if price will continue bearish or finally break bullish.

Overall price is still bearish on the monthly and weekly, EU appears to be making a run to go bullish for a bit. Price has currently broken the Daily High from 4/8/24 BUT is bumping against a bearish weekly trendline.

2024年6月9日

交易進行

Idea still active in my opinion. Price is still bouncing off the weekly bearish trendline

2024年8月24日

交易結束：目標達成

Been over in the futures markets and just now getting back to FOREX. All targets would've been hit. Price has now broken structure bullish. Closing this idea.