EURUSD SWING TRADE SHORT

Dec 15, 2019

After having a bullish run during the UK elections we have seen the weekly 50 ema ( daily Red 200 ema) been touched and rejected as well as a weekly descending trendline. As daily price has failed to print and close above the daily highs and rejected off the 78.6 daily fib level we could now see a long term bearish run to complete the bearish Gartley harmonic. If we get the price action on lower time frames we should be good enter for the short. We have to be mindful that we still have the daily 50 ema below price acting as dynamic support. If we can break through all of the above then we could see the -27% and -61.8% be hit to make new daily lows. If we get a previous support on the H4 (1.117065) broken and retested then i will be looking to short. Second scenario would be price will rally back up to make a double top of the 4 hourly structure (1.1800) which then will wick fill the previous daily wick off the 200 ema, then i will be looking to short from there. Price could possibly short off further down to fill the weekly gap in price from April 2017 which ranges from 1.08300- 0.07100