Alex_BPTrader
Long

EURUSD - Strucuture Trading

FX:EURUSD   Euro Fx/U.S. Dollar
5 months ago
+++ Don't forget to LIKE & Follow+++Here are my thoughts about EURUSD             on 4H.
Price failed to make a higher high higher close above previous minor structure(red line) and if you drop 1 time frame lower you will see a Double Top with RSI being OB             on the right Top + bearish divergence - nice trading opportunity for shorting EURUSD             . If price goes higher you can take the opportunity for hopping on the bearish move.

If you look left price made a NSH             - this NSH             confirmed a bullish rotation in price on 4H, so currently I'm looking where I can go long. There is equal measured move(orange lines) that is completing right at previous zone(look where is NSL). There is 1.618 Fibo Extension too - that is almost perfectly aligned with the measured move.

I will be waiting for RSI to go in oversold condition and then I'll be looking for entry reasons based on my trading plan. You can wait for a Double Bottom with stops below structure level(NSL) and target previous minor structure.

Good Luck!
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5 months ago
Trade closed: target reached: Target 1 reached - 120 pips +
5 months ago
Comment: My bad 1st target 110 pips
-Alex
Professional Currency Trader & Mentor
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