Categories: Forex Education

Instability in Greece might push the Euro lower

Recent events in Greece and the way market reacts,suggests that traders don’t really believe in that deal. Euro continued its valley and i think it is a good idea to look for sell opportunities. On the other hand technical analysis confirms our trading plan. EURUSD is movin inside a potential triangle and might go lower completing the second leg of a double wave down.

Technical Analysis:
D1 – triangle, potential double wave down

Entry:
H1 – Watch for a break below the trend line followed by ABCD correction up (m15) and if the broken level holds, go for a sell
Target 1 – 1.0880
Target 2 – lower band of the triangle
Stop Loss -above last high created on H1

Video Explanation:

Yours,
Vladimir

Vladimir Ribakov

Following 11+ years of trading experience, trading my own accounts as well as for hedge funds and brokerages, I have decided to fulfill my destiny and to personally mentor Forex and Commodities traders. When I released the “Broker Nightmare” (software that hides trades from brokers) 8 years ago, I found an overwhelming number of frustrated people who genuinely wanted to learn how to trade the Forex market, but instead found themselves scammed and misled. Over the years I have also release other trading systems based on my trading strategies, and met a lot of people on my worldwide Forex seminars. We’ve formed a close Forex community and we meet once or twice a year in various locations in Europe.