I know the day is still young, and that it will be a short day, but it looks like a PIN may be forming on the EURUSD daily chart.
To me this chart is not saying 'Get ready to short the EURUSD'. It is saying 'Hey if you had waited for the Daily instead of dropping down the 4hr to look for a signal you wouldn't have wasted 200 pips chasing a bad trade!!'
So I will take a look at the end of the day.
IF it forms a PIN, and IF it closes below 1.2500 I MAY think about placing an order for a short entry BELOW the PIN.
But first I will wait.
And I don't think I'll be looking too closely at the 4hr charts for awhile.
Have a good weekend everyone.
To me this chart is not saying 'Get ready to short the EURUSD'. It is saying 'Hey if you had waited for the Daily instead of dropping down the 4hr to look for a signal you wouldn't have wasted 200 pips chasing a bad trade!!'
So I will take a look at the end of the day.
IF it forms a PIN, and IF it closes below 1.2500 I MAY think about placing an order for a short entry BELOW the PIN.
But first I will wait.
And I don't think I'll be looking too closely at the 4hr charts for awhile.
Have a good weekend everyone.