Categories: Technical Analysis

Selling Rallies In EURUSD Preferred

Latest news from today put massive bearish pressure on the Euro. If there are no surprises the pair should visit at least 1.10 – 1.1020 (opposite bollinger band on the daily chart) In my opinion we should be looking to sell rallies in double waves.

Technical Analysis:
H4/H1 – bearish double wave cycle

Entry:
H1 – wait for either a Triangle/Flag pattern for the correction or a double wave up before selling.
Target 1: 1.1108
Target 2: opposite Bollinger Band on D1
Stop Loss: above last high created

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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.