Looking For Entry Points Only Downwards

29 October 2015, EUR/USD

The daily chart: a strong trending distribution down with active ADX. Broken bottom Bollinger envelope indicate a possible continuation of drop of the euro. There are two most probable paths. The first – drop from current levels to 1.0814 and then upward correction. The second – a preliminary pullback to the zone of the middle Bollinger band (1.1216) and only then the main phase of decline.

?4: bottom envelope is also broken here. You can sell the euro immediately after touch of zone of the middle Bollinger band (1.1037)

?1: similar picture. Structure may be one of the versions of the “bear flag”, so we will have two fall scenarios again – either from current levels or through a rollback to 1.1037

Expectations: The main scenario – roll back up to 1.1037 and then start of decline towards 1.0814. The alternative scenario – a direct drop to 1.0814.

Solutions only sales. The best option is selling from the area of ??1.1037, but the price may fall from current levels, so make a decision on entry points based on your own trading style.