-We are now down trending on the 4 hour chart -We always want to trade in the direction of the trend -We are making lower lows and lower highs -We are trading below key level at 1.4000 Which we broke with a strong downside move -If we put a Fib in from previous Lower high to the new Lower low price is reacting to the 0.618 Level -Sign of retrace Over ? -We have put in two dojis in on the 4 hour time frame -We have also come to our trend line that is acting as Res and also showing signs of bullish weakness
So if we put all those together on the 4 Hour time frame we are extremely bearish
If we look at the daily -We are also making new lows and currently in a new forming down trend The trend is your friend -The biggest confluence for me is we have broken the previous higher low on the daily when the uptrend was in affect we have come lower then the previous higher low Which also signifies a change of trend and direction -So after all the bullishness over the past couple years isit over ? well for now we are in full affect to make a new lower low in this current trend which is at 1.3500
Heads up Remember guys this pair is heavily influenced by Oil so it is a more risky pair to trade but in terms of technicals it is a great setup :)
Also my entry is very aggressive id recommend waiting for a strong bearish candle on the 4 Hour time frame to confirm more confluence and be a strong selling setup as it confirms our momentum which is bearish So id Recommend waiting but if your a risk taker like me join me lol ;)
Only 65 pips Risk well worth the risk with a great Risk Reward of 1:6 :)
Trade safe My entry 1.38897
交易結束：達到停損點
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Really shocked that this one hit stop loss but i am still bearish so i will be waiting for a rejection from 1.4000
doesnt' matter whether the loss is 65 pips or 100 pips. if you are using 2% risk per trade, it should be 2 % always. coz your lotsize is different when you stop loss is different
SkyrEk
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Stay short mate, at around 1.40 region, your SL is alittle too close for comfort. Cheers!
ARFXC
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Yes i agree im still very bearish justs going to wait
smitheric1970
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Excellent analysis!
Kenyanpiper
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that's too soon. a rejection at 1.400 will be more like it. there is also a falling trendily to consider
Nico.Muselle
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I agree with you. I have this setup
PS : it seems the author's setup hit the stop loss.
swisse1
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Nothing but profits since ive joined you i hope it stays this way
Thank you for your hard work keep it up
ThabaniMjoli
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yeah, m in love with the details in your analysis too. thanks for this 1 too lets wait to be paid......
ARFXC
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Details key
Hope some people can learn and take some small education from my analysis :)