The bottom of the dollar: case for and against

R

riskfreetrading

Hi!

I have not traded the dollar for a long time now. I just went long dollar and short EUR less than half an hour ago, when my order got filled. I got filled at 1.5060.

Since I did not trade this pair for a long time, I wonder what you think are the cases for shorting or longing this pair.

I am short as of now EUR/USD with 1.5060 as entry point. I have another order around 1.51, but I do not think the market will get there today.

My timing models said to sell at 1.5060, so I did what they asked.
 
I expect a possible retest of high, but at a lower level than to the high of 30 minutes ago. I plan to add more lower than the high in case it does not get to the high of 1.5060.

What is yesterday's high?
 
Quote from riskfreetrading:

Where, and why? If you are bullish, why?

I looked at it again, and I think it would roll down from here.
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If I were you, I put stop at 1.5080, +20pip stop. If you are in profits, looked like it, I will move my stop in break even. I will just trade the chart, don't know which way USD heading long term. I don't care, however I will watch bond market as well.
 
EUR/USD is now at 1.5028. I am going to watch it as it is getting closer to buyers at 1.5020 area. Profits are now +32PIPS.

I plan to take some profits to cover cost of stop, and have a free trade from this point forward.
 
Quote from riskfreetrading:

EUR/USD is now at 1.5028. I am going to watch it as it is getting closer to buyers at 1.5020 area. Profits are now +32PIPS.

I plan to take some profits to cover cost of stop, and have a free trade from this point forward.
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just took 35PIPS profits on part of position. Now, I will put stop for a free trade from here.
 
Quote from Bigpipn:

There is the mother of all Gartleys on the weekly Euro with strong bearish divergence.....
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Good to see you again Bigpipn, and thanks for sharing your insight! Cheers!
 
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