Hey traders, I'ts ironic how many times this currency pair burned me, but when i see one of my firstly post here it was the reversal H&S in the Daily and Weekly time frame in Euro/Usd, I feel justified. So, lets go straight to our chart, we Trend is obviously Down, the important rule of "We don't trade against the main trend" Its correct and this is an example of what trading scenario(plan) you have to apply in this cases.Therefore, we are looking for best entry that could be in the yellow levels that you can see clearly in the chart. In addition, the bearish pressure that forced the price to smash the support (strong) level its visual with a clear eyes. If you go back in the chart you can find many -Point A- like the nice open blue that I have drawn for you. From the price action analysis resulting that the price may reach the previous support (now became resistance) and go even more further. Thus, we are looking to take short strategy in order to take profit the stop losses and take profits levels will be adapted but the main idea is this that I mentioned above. The reason that we don't trade against in main trend you will find out why if you join in to this trade.
I will try if you want to read me, to put some indicators in the cases that we need the past data to analyse and confirm our trading moves but not for now.
If you agree give me Like to motivate me.
My name is John Vasilopoulos
Instagram: john_vasilo
Thank you .
I will try if you want to read me, to put some indicators in the cases that we need the past data to analyse and confirm our trading moves but not for now.
If you agree give me Like to motivate me.
My name is John Vasilopoulos
Instagram: john_vasilo
Thank you .
Comment:
Break Out from Resistance, that becomes support
Comment:
We Wait the Yellow horizontal lines
Trade active
