• Vasily Trader

EURUSD: Shorting Trading Plan For Next Week (Trading Plan)

Hey traders,

This trading week was crazy. EURUSD was consolidating within a very narrow trading range

and we saw a lot of false bullish / bearish breakouts.

Market maker was playing with our expectations constantly changing our biases.

For now the price is still trading below a major daily supply cluster.

And even though the price set a new higher high higher close on a daily, for now the violation is considered to be false one.

I still believe that the pair is heavily overbought and it needs a retracement

To catch it wisely, keep monitoring a rising wedge pattern.

On Friday we already saw its breakout attempt, however, for now the price managed to return within its boundaries.

Your plan is simple - wait for a daily candle close below a support of the wedge .

It will be a strong bearish signal and then a bearish move will most likely follow.

Your goals will be 1.205 / 1.20

Remember that if the price violates the underlined supply cluster to the upside, the setup will be invalid and bullish continuation will be expected.