160630th 8.00BST EURUSD London Open Strategic and Tactical Plan
Thank you Wayne and thank you all friends for your comments and critics.
After Brexit I am a bear on EURUSD.
I stay out on profit taking and short covering, and consider entering only on continuation of the downward pressure
Market is down, 21 is below 55 and converging, decelerating, good angle and separation, price at daily 21
Price is up, reversing to the 21, centripetal move has completed, 5 ready to cross down 8
Volatility is contracting
As indicated by Wayne, weekly pivots are still not relevant after Brexit
Market is slightly up, 21 and 55 braiding, no separation, price a little above the MAs
Price is neutral, 5/8 braiding
Volatility is low, BBs have narrowed
During the asian session, price went down from DM3 to DM2.
At London open, London boys found it at the 61.8-50% Fib ret. of the asian move.
I expect them to push it down at least to DM1 for the day, to complete the DM3 to DM1 for the day.
TACTICAL M5 AND ENTRY PLAN
Stoch have crossed down on M5 and price is now retracing from DM2 to DPP.
My plan is to wait for price to re-test DPP from below, enter there at retracement and stay with it until it continues down to DM1 for the day.