EUR/USD
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W1
W1
I have seen a few post about EU going long which I also have placed for along than is still open. however I am looking for more confirmation to others opinions and what you see as well. I have posted a chart of the weekly that shows the last up trend is touching the top trend line on the major downtrend from the past. I have also attached below the daily, 4hr, and 1hr charts. I am wanting to know if you think EU is still a long term up trend or if it is just retracing off that supply zone from the other swing high. I believe that if it breaks through that trend line with a strong bullish candle that I will be getting in for a long term buy! however if the recent market correction does not break then I will wait for the retest. what is everyones opinions?
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Hi David!
This pair could easily go both ways, there are arguments for going both long and short. With that, plan what to do in case it goes in a certain direction and a trade plan for that.
Good luck!
Thank you i definetely agree. I have had a buy in since last week that I took 90% of the profits from already and left a runner of .01 with SL moved into profit just to see what would happen I am open to both direction of course but waiting to see what will happen. Looking at the news this week is going to be a strong week for EURUSD either direction
lots of news this week, should be fun
Yes I was hoping to get a good entry but I didn't so I am waiting right now
https://www.tradingview.com/x/NFKfEmaW/
From Elliott Wave perspective, this is what I would be looking for - a Leading Diagonal to confirm further downside bias
Thank you I appreciate your input hopefully a few others will join in. I am just curious to what people think is going to happen.
I should also mention that I do realize my chart looks insane with all of the lines I just wanted to break it down for myself from a monthly view down to the 1 hour to see if I could determine the long term outcome vs just a week or two. We can never have a guaranteed answer as to what is to come however I am trying to use every tool I can to help make the best decision as we all do.
1 HR
4 HR
Daily