Roker1
Short

Back to Back: Another flag pattern on EURUSD

FX:EURUSD   Euro / US-Dollar
Hi traders,
i won't be long in this explanation for the background of this trading opportunity is the same of my previouos eurusd             analysis.
The bottom line is that we are now looking for simple patterns to go short.
This flag pattern for my view has been broken right now. The last red candle had closed below an important psychological number (1,0400).
My position would be divided in two parts as shown on the chart above.

If you have any comment or suggestion, please fill the comment section below.
Otherwise, see you in the next chart!
Trade ist aktiv
Kommentar: If you're not involved yet, here is another reason for entry at better level: 2618 at market!

Trade geschlossen: Stop wurde erreicht: -26 pips
Se sei d'accordo, lascia un mi piace! Grazie
Canale Italiano: https://www.youtube.com/c/MisterForexIT
Ultimo video: https://youtu.be/0rIFF-j4kdM

If you agree, like this chart! Thanks
My last (english) videoanalysis here: https://youtu.be/RUySg8LW6Iw
Active again?
Antworten
Roker1 ojgrand
Hey @ojgrand , as you can see on the screenshot below price is at previous structure right now, we formed a nice ascending trend line that if broken could be a decent short opportunity. Thanks for the comment by the way!
+2 Antworten
Roker1 Roker1
That long wick ruins our risk to reward ratio though
+2 Antworten
ojgrand Roker1
@Roker1, so if breaks the blue line go short?
Antworten
Roker1 ojgrand
@ojgrand, i am personally not trading until the new year, because of very low volume, in holiday periods markets could go mad. But for educational purpose i would say that the setup itself is one of my favorite. Engulfing candle at previous support, RSI divergence, structure, that's enough for me to trade. A break of the trendline would be the confirmation signal. Based on the size of the breaking candle i would either wait for a retracement or sell the close of that candle. Hope it helps!
+1 Antworten
Totally agree on the long term short position.

Check this out for long term, bearing in mind the retrace comment:


The retrace comment analysed here:


I would expect a retest of the 1.05700's levels.

Thank you for the idea @Roker1
Antworten
Roker1 Telson
@Telson, thank you for sharing your view. It boost the likelihood of this trade!
Antworten
Telson Roker1
@Roker1, you're right when you're right :)

it is nice to see different analysis that support your idea, like you said, it makes me feel more confident on my trades.

Let's see how this will turn out.
Antworten
Roker1 Telson
@Telson, i'm agree a bigger retracement is coming though.
Antworten
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