March Euro Currency – Multi-Profiles 1-8-18
Breakdown of Today’s Update
Published 1/8/17 10:35 am central:
We are looking at the Euro-Currency today. This is a market that I have discussed for a couple weeks with clients on playing the upside move. We have now broken down through the trailing stops on that trade, and are pushing lower through longer-term bottom zones.
As you can see we have a nice bearish trend in the 60 min and the 30 min time frames. Looking at the 4-hour time frame, we test the bottom zone again and this time broke and have closed several bars below.
This setup is creating a bit of divergence. we are bullish weekly/Daily but the most shorter term time frames on the scanner are bearish and are looking to create new boxes.
Looking at the 60 min and 30 min charts we are seeing navigator showing magenta oversold bars and green tips on the 30. We are also seeing the TAS ratio looking to cross.
This being said I am looking to get long on these top zones being breached and look to trade back to the 4-hour bottom zone highlighted. This could definitely move lower so we will be trailing risk tightly on this market, but believe there is a good chance we could move back to the high volume market map on the 4-hour chart
For further insight into this trade, call use your indicators to bring up the charts and then call your broker if you are under a hybrid arrangement.
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Below the updates, you will see the original charts showing buy/sell zones
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