My previous analyses you can find on the link below. You can also check my idea on a possible EURUSD correction through the other link.
Things haven't changed much, the divergences still persist, the probability of a correction is increasing.
We set up the short tentry on 4 Hrs time frame:
Chikou Span lost open space, hit into Price candles. ADX down, so the bullish trend is completely out of steam, and now DMI seems to have a chance for a bearish cross. The Key Level is 0,9370. We have Kijun Sen, 100 WMA, and a very thin Kumo here. We have multiple signals here so this is our entry point for one trade unit short, with an intital stop at 0,9420.
In case price breaks the Kumo and the trendline too the possible corrective tgt is ard 0,9200 - 0,9220.
This setup provides a 1:3 risk-reward ratio.
Things haven't changed much, the divergences still persist, the probability of a correction is increasing.
We set up the short tentry on 4 Hrs time frame:
Chikou Span lost open space, hit into Price candles. ADX down, so the bullish trend is completely out of steam, and now DMI seems to have a chance for a bearish cross. The Key Level is 0,9370. We have Kijun Sen, 100 WMA, and a very thin Kumo here. We have multiple signals here so this is our entry point for one trade unit short, with an intital stop at 0,9420.
In case price breaks the Kumo and the trendline too the possible corrective tgt is ard 0,9200 - 0,9220.
This setup provides a 1:3 risk-reward ratio.
