Inzamam9012

Trading Idea Regarding EURUSD

Short
FX:EURUSD   Euro / U.S. Dollar
According to my analysis this currency pair is going bearish inshallah
My Analysis consist of the Fallowing Four Steps


1------->Behavior:

*Market Structure(M.S)------> Moving in side ways direction after strong move to the upside in 4 hour Time Frame

*S&R------> Price has reached strong resistance zone(Bearish move is expected)

*Trend Line------> Price has reached strong falling resistance zone (Bearish Behavior)

2------>Momentum:

*Previous Candle Close(P.C.C)------> Bullish close (a little pull back is expected before continuation of downtrend)

*Current Candle Close(C.C.C)------> Inverted hammer appear in pull back and close bearish(continuation of downtrend)


3------>Chart Pattern M30 Time Frame:
*Breakout Raising Channel------>Breakout the raising channel and now retesting it indicating continuation of bearish behavior

*Double Top Chart Pattern------>Has created the double top chart pattern which also indicating continuation of bearish behavior


4------>Entry/Exit Point:

*Entering Point------> Enter the market after the breakout of the structural low of double top chart pattern

*Exit Point------>

*Stop Loss------> Stop Loss above the structural High

*Target------> TP1 Strong Support zone in 30 mint Time Frame

*Target------> TP2 Strong Support zone in 30 mint Time Frame

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