Lets see If we can get a SG on 4HR,Morning guys,
On EUR today we see important sign. Market stabbornly doesn't want to move lower without any significant reasons. There is no real support below market and in different time it could easily drop for 50 pips more, especially after reaching daily K-area and Agreement with OB condition. But take a look - price is forming inside sessions and market stands flat. It means two things.
First is, we have to recall 3-period rule, which tells - if market doesn't go in a predefined direction for 3 periods - close the trade. This is for those who keeps shorts right now. Bulls also have to adjust trading plans as we could not get 1.1320 entry point.
Second is - such standing tells that EUR is building an energy and upside action could start at any time. We can't say definitely whether it will be real upside continuation or some short-term spike, but it probably will fast.
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On 4H chart after W&R of HW pattern's top - EUR has not broken its lows, but stands inside its range. Due this standing we could identify signs of bullish dynamic pressure - while MACD shows bear trend, price stands flat:
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On 1H neither of our ideas with lower standing target were completed. They were not erased by price action, but market just doesn't go there, forming triangle consolidation. This leads to the same conclusion.
Thus, although we do not care about loss now as we do not have any shorts - we care about our entry point around 1.1320 area, which could be not reached. Thus, one of the decision here is to split position in 2 parts and take 30% while price stands inside the triangle. If EUR still drop to 1.1320 - take the rest.
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Last trading day for week, month, quarter and mid -year. Hopefully it will give some volatility
