So a quick look at the trading ideas since the start of the year on TradingView for EURUSD on the Daily has the majority of people looking short. However, since the 1st, these shorts have been crushed. This proves, once again, the 90% rule of trading.
However, the EURUSD now looks very overextended reaching into the yearly regression. I'm hesitant to get into this one due to the strength we have seen, although the higher it goes, the higher percent chance of a correction happening occurs. Based on the incredible weakness on Friday, essentially functioning as a testament to the resiliency of the price resistance there.
I'm looking to short into the first 50% retracement, marked above. After that, the price could do anything.
Come short with me! TP @ 1.15144 and SL @ 1.18384.
Cheers!
However, the EURUSD now looks very overextended reaching into the yearly regression. I'm hesitant to get into this one due to the strength we have seen, although the higher it goes, the higher percent chance of a correction happening occurs. Based on the incredible weakness on Friday, essentially functioning as a testament to the resiliency of the price resistance there.
I'm looking to short into the first 50% retracement, marked above. After that, the price could do anything.
Come short with me! TP @ 1.15144 and SL @ 1.18384.
Cheers!
