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Below the updates, you will see the original charts showing buy/sell zones
Published 5/18/17 2:57 pm central:
This morning we saw the Euro currency appear on the 60 mean bear breakouts. I have been keeping an eye on this market since the update. What is interesting about this setup, is that we are bullish weekly and daily, but the 60 min is bearish by a few bars and we are neutral the 240 min. We touched the 240 min bottom today and was unable to break. We are now retracing back to the 60 min bottom zone that initiated the 60 min breakout to the downside.
we have 2 options here. Look to sell this as we retrace on the breakout zone, with us looking for this market to retest the 240 bottom zone, and break on the 2nd time through and then trade back down to the daily top. Or we break this short downward forming trend and we would do that until we break the top boxes.
At this point in time, we are looking to take this short. You can use the 60 min risk/entry or even look to use a 30min chart for entry/risk. We are trying to jump on this trade in hopes the navigator gains stronger bearishness and we break the 240 min bottom tomorrow.
CLICK IMAGES TO ENLARGE
MDA SnapShot: Euro Currency 60 Min Chart 5/18/17
MDA SnapShot: Scanner Bearish Breakout 60 min from 5/18/17 morning email
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