EURUSD D Short Setup

2019-11-10 09:40:24

Looking at a potential short setup on EURUSD D:

Type: SHORT
Entry: To be determined/tentative (market closed)
SL: 1.10706
TP 1: 1.09768
TP 2: 1.08941 (continuation trade TP/target)
Invalidation: Close above the baseline or a hard close under 1.10026 (purple marked horizontal line)

C1: Valid. Megatrend is red/bearish.
C2: Valid. RSX is below midline and LSMA-D is falling and below 70.
Exit Indicator/Gatekeeper: At critical juncture -
if blue line goes through green, short is greenlit.
Blue line = fib wavetrend
Red = medium term fib ma
Green = long term fib ma/base

However since they're both just under 0.618 fib, probably of bounce cannot be ruled out. Slow wavetrend (gray) has not crossed down 75 or started to curve down. 12HR Volume Profile POC (white) is below 1D POC (gray) - making note to monitor if POC levels change or flip.