EURUSD - short term (pullback)

Apr 26, 2020

with a bounce from the demand zone, respect of both the fib levels and Gann lines. We could see a pullback to the target level, before continuing down. The retail sentiment is down, (suggesting an uptrend in the making) - COT data shows the asset managers long on DXY, the slower moving institutional. But the faster-leveraged funds are moving shorter (not much).

So we could see a push up before a Bear fight back to some recent lows.

Not in a trade yet - waiting for confirmation both ways.

Disclaimer
This idea does not constitute as financial advice. It is for educational purposes only, our principle trader has over 20 years’ experience in stock, ETF’s and Forex. Hence each trade setup might have different hold times, entry or exit conditions and will vary from the post/idea shared here. You can use the information from this post to make your own trading plan for the instrument discussed. Trading carries a risk; a high percentage of retail traders lose money. Please keep this in mind when entering any trade. Stay safe.

Apr 27, 2020

Note

Pullback might only make it out to the weekly Gann channel down...

Apr 28, 2020

Note

Apr 30, 2020

Trade closed: target reached

First leg closed nicely - now wait for setup, will it keep going or bounce back to the lower zones?