EURUSD | SHORT After noticing Bearish ABCD

#Week10-Strategy-1

BEARISH INDICATOR (DEC 14)

1. Significant resistance @ 1.079
2. Significant resistance is between Fib 50% and 61.80%
3. Harmonic Bearish ABCD reversal pattern spotted on a daily chart. Strong point for the Bears.
4. Historic view also shows a Resistance level of 1.079 received respect.

BULLISH INDICATOR (DEC 14)

1. Bullish trend, HHs and HLs
2. Strong bullish candle at sig support of 0.95
3. Bullish channel and price expected to respect it

PREDICTION

1. Bullish rally may reverse around the significant resistance level of 1.079
2. But it might test significant resistance before going Bullish again

BIASE 1 = SHORT - PLAN A (Sell Limit @ 1.079)

BIASE 2 LONG - PLAN B, (If resistance retested and SL of PLAN A is hit)


PLAN A: SHORT at 1.079

EN: 1.079 (Sell Limit order)
SL: 1.08967
TP1: 1.0617 - RR: 1.62 - Lt: 0.05
TP2: 1.0467 - RR: 3.03 - Lt: 0.1


PLAN B: Long @ 1.091
(After Plan A SL is hit)

EN: 1.091 (Buy Stop order)
SL: 1.0778 (Below support)
TP1: 1.1079 - RR: 1.23 - Lt: 0.05
TP2: 1.1237 - RR: 2.38 - Lt: 0.1