EURUSD opened below the Persistence Zone on the Quarterly Profile and has made a bearish breakout. This suggest that EURUSD will take 1 more leg to the downside. We look to sell the first retracement letting EURUSD move to the upside then we look for a close lower then the low of the prior candle to generate the short signal entry. We want to pay close attention to the Yearly Profile while waiting for the position trade to setup off the Quarterly Profile. The Yearly Profile is analyzed utilizing Weekly Candles, the Quarterly Profile is analyzed utilizing Daily Candles. Make sure that the current weekly candle does not take out the high of the prior candle before the short signal position trade is triggered on the Quarterly Profile if it does take out the high of the prior candle on the weekly then hold off on the short and wait of the current weekly candle to close to assess whether it is closing above the high of the prior candle. If it does this would signal a failed bearish breakout on the Yearly and we would then look to buy the retrace on the Quarterly Profile looking for it to fail to confirm a downtrend.
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