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EURUSD Questions Short or Long?

Can anybody contribute?

5 comments

5 Comments


jasons chart on NZDUSD is correct and a fully resolved spring or reverse head and shoulder. the volume characteristics are in agreement. congrats

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there is clearly a change of character from the selling waves in the background or the left hand side of the chart. this is accumulation character. however the resistance line that you showed is not fully resolved for a buying edge. there is scope for the market makers to shake at this line. definitely not a short due to change of character. however i would watch for the resistance line to be confirmed. the shake wave at resistance would be a better entry imo

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Good choice, Jason.

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I am currently long on NZDUSD so probably would not take the EURUSD trade as I would be to exposed to USD.

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I would be long on break of resistance if accompanied by decent volume, Target are would be the 4 Hr Fib area The resistance is also Weekly and Monthly pivot point so it will take some breaking through I suspect.


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