Eur/Usd: Is Going Down, Down, Down

Written by on 9 Comments

The First Trade of the trading challenge is to go short on the Eur/Usd. I missed my entry last week on this pair and I will not miss it again.

This is a massive sell on the weekly. Based on my strategy if you dont have it download it here Based on my strategy this is a huge weekly sell setup. This is a great opportunity. The only problem is on a weekly chart the stop loss is too big for me to trade based on my entry rules so I am going to have to wait for a retrace on a lower chart.

First I will show you the weekly here.

August 15 Weekly

August 15 Weekly

That is a beautiful trade but since I need to have a smaller SL I am going to wait for a new entry based on a lower time frame chart. I will enter on a short on either a 1hr or 4hr chart.

August 15th 4Hr Chart

August 15th 4Hr Chart

  • Artifact007

    Any news for EUR/USD?

  • gozzy

    I believe from my analysis Eur/Usd will restest the 1.3200 area.

  • Sheraad

    Hi, I’v already entered this trade on Thursday. the rest the chart will explain. hope I’m right SL 1.2941 ENTRY 1.2841 TG 1.2565

  • michael
  • Jchidolue

    Hi casey,
    A look at d H4 chart of EU shows that there is a divergence on CCI and a bullish engulfing pattern.I feel that it is going to move up to d 1.2890 area.
    this is my first post.I really appreciate d good work u are doing.

  • qureshimeq

    I am sure it will be a good trade setup developing, but at the same time I am worried that may be we will not be able to reach the proposed SELL AREA.

  • Artifact007

    good news, tq

  • http://www.winnersedgetrading.com caseystubbs

    Fixed.

    Thanks

  • Demonwillori

    hi casey!…I couldnt expand the second chart