Hey guys, so recently I’ve been experimenting with pennants and I spotted this on the EUR/USD D1 chart:
Here’s a more zoomed out image:
Am I correct? And if I am is it time to get in short?
Thanks
~ImBatman
Here’s a more zoomed out image:
Am I correct? And if I am is it time to get in short?
Thanks
~ImBatman
My trading plan for EU : do not take any trade before the ecofin meeting. As the pair will react to fundamentals, technical analysis is irrelevant.
Otherwise it is a kind of bearish pennant. But even so, you need to enter after the pair broke out of it.
What we think is unimportant. Only what you think matters in context to your trading plan. So if you think you have spotted a trade setup then all you need now is your confirmation signal to enter the trade.
All the best bro
Bob
+1 on that. Different traders would disagree with what you see (me included) which as bob said is unimportant. Trade your strategy and your signals and simply ignore what anyone else says.
Just from pure experience. The current downtrend is too strong for my appetite. Could happen anything. But if I press a button I wanna see a scenario that perfectly fits me same as this could fits to you. I like a correction much higher… I wanna see prices to accelerated and spike sharply to initiate a short position, because fundamentally EURO has a lot of space to fall further. Just my 2cents.