EURUSD - ANOTHER SHORT TRADE IN THE MAKING: UPDATE by DanV on TradingView.com
16 October 2015
Updates and comments
See previous chart for details of overall view.
Previous short was stopped out but it seems the overall counts still looks correct to me, hence another attempt to join the potential short.
Here are 2 possibilities, either we get a retrace of the decline or breakdown without much retrace.
1. Entry short: 1.1450 Zone (on partial retrace, but then actual entry and stop loss could be adjusted),
Stop Loss: 1.1517, Target: 1.110 zone
2. Entry short: 1.1350 (on breakdown without retrace),
Stop Loss 1.1407, Target 1.1 zone.
Warning: This is my interpretation of price action using TA approach that I consider helps me most but could be completely wrong. Therefore as always, do your own analysis for your trade requirement and ignore my views.
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DanV