elijahdokubo

EURUSD Analysis 30 Minutes

Short
FX_IDC:EURUSD   Euro / U.S. Dollar
I am looking forward to price touching the resistance point and going back to the downside.

Comments

When price is that close to a previously stand out high it will usually trickle up to that high as sellers sit on their hands waiting to see if they can get more bang for their buck. This imbalance causes the demand for buying to outstrip the demand for selling, which is what inflates the price. This is why it's always wise to wait for confirmation that price isn't going to do this if your selling by simply waiting for the first push down and a the first tight flag on either the one hour or the fifteen minute chart. That is to say a correction consisting of at least 6-8 candles which has two confirmed tops and bottoms and then to enter on the break of the flag. Thank me in several months time when you have a large enough sample size of results to see what this to your trading results. 😉
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Seriously overbought, what goes up must come down, right?
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