9/29-30 EURUSD Short opportunity - Full Analysis (15 & 240 M)

This looks like a really good short opportunity, EURUSD is in a 4H/D downtrend so we will stay in short positions only until that primary trend changes. EURUSD looks like it will be moving up to Fibonacci resistance 0.236 (15min chart) technicals (ie RSI, Stoch RSI, and Momentum) all suggest a short term upward movement which purposes a nice entry for a short position at 1.09700 (ENTER ONLY WHEN TREND IS REVERSING, USE PRECAUTION AND BEST JUDGMENT**). The Fibonacci retracement drawn in red lines up well with the points of control (or red lines extending from the histograms, which indicates institutional investor trade volumes at various prices ie "Volume Profile") which form our price target ranges in the gray rectangles. Price target or "Take Profit" for this short position is between 1.09100-1.09000 due to the current trend lines that have been observed. That translates to a 600-700 Pip move. Please comment with any additional observations! Thank you.


THIS DOES NOT CONSTITUTE INVESTMENT ADVICE. THESE ARE REFLECTION OF MY PERSONAL ANALYSIS AND ARE NOT INVESTMENT SUGGESTION. FOR EDUCATIONAL PURPOSES ONLY**

Commentaire:

Looks like EURUSD didn’t have enough in it to jump up too much, still anticipating a downward move once volume picks up tonight