MMM CYCLE SHORT: EURUSD
Hey guys! I hope everyone has been having success in the market lately. Sorry for the hiatus. I am usually not in the market this time of year but I did want to drop a little something before taking off until January. Please be mindful of trading this time of year. Market volume is known to slow up and daily ranges become smaller and smaller. More and more patterns are known to fail. It may be a better idea to bring your trading to a close, preserve capital and prepare for the 2020 trading season.
With that being said, we are seeing peak behavior on EU & the dxy. EUs close on Friday did lock the peak high making shorts the better move looking ahead. Remember to be cautious trading back toward the peak. We had a peak reset low on the 6th that was created Brexit After the reset long, we see 3 levels of rise exceeding 3xadr. We have a nice inverted hammer on the daily and we currently have EMA trapping happening on the H1. Be aware the market makers could take price back toward the peak to create a multiday "M" before beginning the sell-off.
This is the last post until after the New Year. I hope each and every one of you had an amazing trade year and wishing you all the best in 2020.
Happy trading!
With that being said, we are seeing peak behavior on EU & the dxy. EUs close on Friday did lock the peak high making shorts the better move looking ahead. Remember to be cautious trading back toward the peak. We had a peak reset low on the 6th that was created Brexit After the reset long, we see 3 levels of rise exceeding 3xadr. We have a nice inverted hammer on the daily and we currently have EMA trapping happening on the H1. Be aware the market makers could take price back toward the peak to create a multiday "M" before beginning the sell-off.
This is the last post until after the New Year. I hope each and every one of you had an amazing trade year and wishing you all the best in 2020.
Happy trading!
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