DislikedMorning everyone, coffee's and croissants on the house for EurUsd-Only members ! Selling more on the mid-range, attacking the starting of the lowwwww, for 10pips. sell stop 12933! Wishing to every fellow trader an incredibly happy, healthy, prosperous week!Ignored
DislikedIn my previous posts, I have focused on bulls threats. When mainly selling, my main focus is on buying, and vice versa. This helps me stay objective. I will try to balance that a little more in my shares. This fresh 8H pullback setup(only to be confirmed under 1275) is starting to have an effect on my long-term shorts planning, and will even more so if we get a decisive 1275 to 1260 BO before any new 1350s reach. Has this pullback reached it's limits? Or will it, like the last one(October), reach even higher ground?...Ignored
I shared this above quoted setup and corresponding chart last week. Pullback traders we might have a good one on its knees at last!
Level of confirmation for this 8H setup has risen today to 1292, which was just broken through.
The confirmation of this setup is a first strong indication for me that the tension has reached a new level, and that the end is near.
Possible very important move coming soon :
The second 1259(previously1263) is reached, my above 1290 positions will all be at BE again, at last.
Not because the down momentum might be strong and steady enough for them to make it to their targets(most<1230), although that could be the case.
Noooo, it is because, under this prolonged indecision + tension, chances are just as great for price to again go against the trend, and in a bigger fashion, before continuation, if continuation prevails.
So..
Best scenario. If momentum maintains its strength here, price pursues its course downward with not enough bull volatility to take out most of my shorts.
Second best scenario. If it doesn't have the necessary momentum, my above 1290 remaining shorts get stopped out, and I re-enter them all one after the other, after a >1350s very fiery and colorful adventure.
Leaving aside the very important worse case scenarios for now, keeping this post lighter than usual...
Hope I made sense and it was interesting to someone.
Now let's see what this pair has in store for us this week!
If I don't mention SL and/or TP = longer-term setup possibly in the works!
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