This bounce is likely to be a connective wave into another wave down.
In the video I break down a classic algo driven liquidity sweep just above the 0.786 retracement.
This signals potential reversal.
Stop loss placement depends on how aggressive you want to be with margin.
Tighter risk gives more upside potential with defined exposure.
Invalidation of potential retracement failure swing @ $1.18.
If this unfolds on a higher timeframe, it could develop into a heavy-hitting move.
I'm layering shorts through this area, as discussed in the video.
Trade executed on Pepperstone CFD 👍.
This analysis is shared for educational purposes only and does not constitute financial advice. Please conduct your own research before making any trading decisions.
In the video I break down a classic algo driven liquidity sweep just above the 0.786 retracement.
This signals potential reversal.
Stop loss placement depends on how aggressive you want to be with margin.
Tighter risk gives more upside potential with defined exposure.
Invalidation of potential retracement failure swing @ $1.18.
If this unfolds on a higher timeframe, it could develop into a heavy-hitting move.
I'm layering shorts through this area, as discussed in the video.
Trade executed on Pepperstone CFD 👍.
This analysis is shared for educational purposes only and does not constitute financial advice. Please conduct your own research before making any trading decisions.
Trade active
Hit the BOOST if you enjoy my content - thanks 👍.Note
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75.1% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.Note
Enormous dump to start the week and this idea worked out very well!And it may just be that this is the start of the Euro bear market!
Those who scaled up by reducing stop distance on the bounce are now sitting in wonderful profit.
And that could well become a fortune if a longer term hold is achieved.
...
That little whipsaw was a classic algo “c'ya” before momentum flipped hard to the downside.
Being able to spot these signature moves is, of course, a real game changer.
Hit the Boost if you're enjoying this and other traders may see this thread further up the TradingView lists 👍.
Note
This may be a high time frame bearish trend lasting months / years... but after such a big move, there will likely be a bounce at some point.So I will take partial profit here while the going is good 👍.
Your FA guru can't read a chart💭
I run a technical group with lots of content every day + regular videos, 1:1, chatroom 🚀.
Better than all the rest? My record speaks for itself 💡.
Telegram Group: $50 per month✨.
Contact: t.me/dRends35
I run a technical group with lots of content every day + regular videos, 1:1, chatroom 🚀.
Better than all the rest? My record speaks for itself 💡.
Telegram Group: $50 per month✨.
Contact: t.me/dRends35
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Your FA guru can't read a chart💭
I run a technical group with lots of content every day + regular videos, 1:1, chatroom 🚀.
Better than all the rest? My record speaks for itself 💡.
Telegram Group: $50 per month✨.
Contact: t.me/dRends35
I run a technical group with lots of content every day + regular videos, 1:1, chatroom 🚀.
Better than all the rest? My record speaks for itself 💡.
Telegram Group: $50 per month✨.
Contact: t.me/dRends35
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.