EU
EUR/USD - Downside Continuation!! - Price is currently getting squeezed between my moving averages.
- Top side trend was respected and fell from that level
- Trend line plotted from lows also shows a break in trend.
- Price formed a head and shoulders pattern that broke out to the downside today.
- Price has retraced back into the 50 - 61.8% retracement level of todays range.
- Looking for the large wicks at the on the recent 4H candles to get filled to start the momentum to the downside.
Selling Eur/Usd - Target @ 1.195- The trend line is the monthly downtrend that was broken at the end of July, 2020. Price moved nearly 750 pips from that point.
- Price reached the monthly resistance and has since corrected back from that zone.
- Moving averages have crossed signalling trend change.
- Price has created a new lower high last week and a new low earlier this week also signalling trend change.
- Price has retraced back to retest the previous lows at the 50% - 61.8% retracement zone, which also had significant reactions twice back in December.
- The retest is also testing the neckline of a sloppy head and shoulders pattern that did break out for a nice leg down.
- Target will be in the 50% - 61.8% retracement zone from the leg up off the monthly trend line break to the monthly resistance zone.
EU Smart Money/Fibonacci SetupThe 4H Chart shows a double bottom that took a crap ton of liquidity with a strong sell. That's the POI (Point of Interest) I have marked. I'm also using it as my tp, or where ill take partials. As the chart shows, the 88.6 lines up perfectly with the sniper, or where there was a failed retest of the engulfed candle (SNIPER).
I presume price will make its way down there next week. maybe get there Friday before or when the market closes, but it's a move I'm definitely looking to take.
@MonaySess
EU Smart Money/Fibonacci SetupThis is my first video shoutout: @MonaySess my EU buddy lol
She saw this setup and sent it to me. I saw the 1m sniper setup, but I ultimately want to take this buy. The only way I can see EU selling is a break of structure on the 4h or higher timeframe.
But yeah like I said in the video, any questions you can drop a comment. But lmk what yall think :)
Catch Pips :)
I really don't like talking thru videos but hey, gotta do what u gotta do