EURUSD will be giving a Sell Signal at the end of the day.
What I like:
- Break of short-term Trend Line (gray dotted TL)
- Sell in the direction of long-term Trend Line (aqua TL down)
- Bounce at previous week highs
What I don't like:
- There is not much room between price and mid-term Trend Line (aqua TL up). If the TL rejects the price, at least we will have the SL at BE.
What do you think guys??
Greg.
It looks good but there are a couple of things that are going to make me pass on the trade, your TL is one ,it doesn't give me enough room to justify the risk (SL size) and trading that close into a RN .3200 is the other. Once beyond that, if it doesn't runaway, there are 150 pips of room until the next support point. Im not saying don't take the trade , just sharing my view, and I am an ultra conservative trader. If it all doesn't line up I pass evertime. BTW good job on your EURCAD trade
Always Learning
)on the AUDJPY. I looked at this trade also and passed immediatly because I had already mapped a resistance area 10 pips above entry plus its a counter trend trade, and thats exactly where price wicked thru and reversed. The crossing of the 10sma is just the starting point to analyze the chart to see if the trade makes sense to take from both a technical and money managment point of view. A good example of this is the last trade I posted, EURAUD. You can see on my charts all the S/R lines there, and my TP was just above one of those lines, and that is where price turned if you look at it today. Sorry i got long winded and this is not directed at you Rob ,just trying to help people if they are still not seeing the bigger picture.
