Although price broke below the 2-day fib, it bounced from the 1-week fib so opening to upside potential. Hopefully prices fall back within the blue and yellow lines for better long entries.
The immediate interpretation is that price will continue to weaken and as time passes on and didnt manage to stay higher than the weekly top, i will open/add more to short position.
Price is testing with 50.0 monthly and weekly fib level. My bias is to the downside. Edit: Opened short @ 130.219. {image}
Ignored
Exited short position with a profit of 21 pips even before price touches the fan line. Still trying to be more confident with my trades and hopefully can improve with time.
I think price is forming a double top and i will play according to it. On top of that, it has also reached the critical fib level which supports my view price will retrace downwards.
I think price is forming a double top and i will play according to it. On top of that, it has also reached the critical fib level which supports my view price will retrace downwards. Edit: Shorted @ 130.827. {image}
Ignored
Exited position with 6 pips profit. My hasty exit was due to USD/YEN increasing rapidly along side EUR/YEN. Whilst typing this, price begun to move in favor of the liquidated trade... Shall make a mental note to trade more confidently.
Inaction of US means good news and possible retracement? Better to stay out for the time being though i wanted to play according to technical readings.
