Since February 2018, the overall trend is down and there has been pretty negative news around ECB.
So, the trend is your friend and we have to search for sell opportunities and currently looks like we may get this opportunity pretty soon.
It occurs after the candle close below the round number 1.3000, criteria: - Break below the triangle - Break below the round number - Break below the old 2018 low - Short-term new lower low - The trend is your friend
Wait for at least 1H or 4H candle close OR the best scenario would be those together (both 1H and 4H gets a close first time below the 1.3000)
The target would be around 1.2000 but remember - always be less greedy than others. So, just above the 1.2000.
From 1.2000 we might see a bounce because there are a big the FIB level and the round number!
Please, don't forget to LIKE, COMMENT & FOLLOW! Thank You for your support, I really appreciate it!
Have a nice day! All the best!
*This information is not a recommendation to buy or sell. It is to be used for educational purposes only!
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As You see we have a 1H candle close below the mentioned levels. We have short EMA's death cross between 8 and 21 We have higher EMA's death cross between 100 and 200 We don't have the 4H confirmation but here are some possible retest areas: Please do not forget to Like and good luck! :)
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Now we have all those confirmations to go to the target area!
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4H candle close below the mentioned levels! Maybe we can see a retest but one retest we have already and this is the 1.13000 retest:
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I just want to You remember that today is two HIGH impact news on USD so secure the trades. If those are bad for USD then we may go and retest the triangle bottom trendline, if You are not in this trade then there You might get a very good R/R ratio If You appreciate my work, then please hit the LIKE! Thank You!
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The price touched exactly that first marked retest area and I think that after the counter trendlines break we will see a nex leg down but still this is damn 5 min. chart, not the best confirmation timeframe for the breakout trades!
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NEWS ALERT: 11 min USD Core Retail Sales (MoM) (Nov) 11 min USD Retail Sales (MoM) (Nov)
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Perfect news for us, just a gasoline to the fire! :)
Waiting for re-test of the blue line. Target = orange, SL = fuchsia. Fingers crossed!
GoldenRatioTA
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Blue and red levels are from the daily, btw...
VaidoVeek
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@MRZSKV, Hey!
Your SL should to be a bit higher, it might go and retest the triangle bottom trendline. Yes, You get better R/R but if we are back in the triangle then we could confirm that this move was just a fake out!
GoldenRatioTA
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@VaidoVeek, Very true. Will keep a close eye on the price moves on a low TF. Best of luck with this one, my friend!
VaidoVeek
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@MRZSKV, You too! ;)
VaidoVeek
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@MRZSKV, + we don't have the 4H candle breakout confirmation yet!