EurUsd short opportunity - Watch out for confluences.
Good week everyone,
EURUSD has been on this long downtrend channel for a while now, last week candle just formed a bearish pin bar just long enough to kill a lot of bears stop-losses over 14400 level, first bearish confluence.
Bullish confluence = big rsi divergence and therefore watch out for proper money management here.
Simples strategy here, wait for a pullback and rejection on the demarcated zone and short targeting current lows/middle of the channel (around ~12400), and S.L just some pips above current high ~14000 .
Good RxR opportunity IF it presents itself.
This Trading Idea is to be used for educational purposes only. This idea does not represent financial advice and its NOT a signal. You should trade based only on your own technic and knowledge.
EURUSD has been on this long downtrend channel for a while now, last week candle just formed a bearish pin bar just long enough to kill a lot of bears stop-losses over 14400 level, first bearish confluence.
Bullish confluence = big rsi divergence and therefore watch out for proper money management here.
Simples strategy here, wait for a pullback and rejection on the demarcated zone and short targeting current lows/middle of the channel (around ~12400), and S.L just some pips above current high ~14000 .
Good RxR opportunity IF it presents itself.
This Trading Idea is to be used for educational purposes only. This idea does not represent financial advice and its NOT a signal. You should trade based only on your own technic and knowledge.
Comment:
Looking good, anyway i'd close full position if price reaches 12400~12300 zone
Comment:
Target zone =)
Now its good to watch out for closing positions since i dont expect (yet) much movement further down, its still possible target 12000 but trail your stops then.
Hope you guys enjoyed this ride.
Now its good to watch out for closing positions since i dont expect (yet) much movement further down, its still possible target 12000 but trail your stops then.
Hope you guys enjoyed this ride.
Trade closed: target reached
