Hello my friends . Wish You have enjoyed weekend and have a profitable last week of August.
As I always I am going to tell a simple story about EURUSD pair:
Time Frame is 15 min .
Trend is Bearish.
There is an important Demand area and a Supportive Bullish trend line in Daily TimeFrame which price has reached there last week.
For Confirming a Bullish Trend , Price has to Break the Toppest area on the chart which is : 1.08700 -- 1.08780
Till that time We should find good areas for Sell Position which I have shown them on the chart.
Right now Price is in a good Supply area and any confirmation can be a reason for entering a position. (in 5min there is a 3drive pattern..)
I will update my chart step by step .
Hope it will be useful for even 1 trader...!
As I always I am going to tell a simple story about EURUSD pair:
Time Frame is 15 min .
Trend is Bearish.
There is an important Demand area and a Supportive Bullish trend line in Daily TimeFrame which price has reached there last week.
For Confirming a Bullish Trend , Price has to Break the Toppest area on the chart which is : 1.08700 -- 1.08780
Till that time We should find good areas for Sell Position which I have shown them on the chart.
Right now Price is in a good Supply area and any confirmation can be a reason for entering a position. (in 5min there is a 3drive pattern..)
I will update my chart step by step .
Hope it will be useful for even 1 trader...!
Comment:
Second Update , My main Supply zone has done its job better than others, Again We had a 3drive pattern in lower TimeFrame.
The Point is traders who are scalping in the market , Should choose a reasonable StoppLoss point based on their confirmation strategy.