EUR/USD
This pair recently broke its structure and is re-testing the previous support. The red box shows the area where is fibonacci confluence and it matches the previous support that is now to become resistance. The RSI also gives us another confirmation about where the price is looking to go on the mid-term. Personally I am waiting for a bearish signal to enter the trade and put my stops just above the bearish signal but you can also use the SL I put on the chart. With the SL and TP I put on the chart, we are looking for risking about 18o pips to a 190 pis reward.
Have a nice trading day!
This pair recently broke its structure and is re-testing the previous support. The red box shows the area where is fibonacci confluence and it matches the previous support that is now to become resistance. The RSI also gives us another confirmation about where the price is looking to go on the mid-term. Personally I am waiting for a bearish signal to enter the trade and put my stops just above the bearish signal but you can also use the SL I put on the chart. With the SL and TP I put on the chart, we are looking for risking about 18o pips to a 190 pis reward.
Have a nice trading day!
Comment:
Still waiting for a sign to get a short position to take this trade. This kind of movements show us that it is better to wait for confirmation before we take a trade, even if it means waiting a little longer. I will continue to keep an eye on this trade and see if it gives us a good opportunity to take the position.
Comment:
Trade active:
I am taking this trade risking 75 pips in order to get 270 pips from the market. Trade this with caution or you can also wait for stronger signal to sell.