In this analysis, I looked again at EUR / USD, the analysis comes from a 1-hour graph. I expect the price to bounce off support around price point 1.18360, after which we can expect the price to move towards resistance R (1/2)
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option No. 1 - the price breaks through R1 as this resistance is weak and I expect a reflection from the resistance R2, reflection above, as soon as we record a reflection downwards we enter position No. 1 (Entry 1 = around the price 1.18970), as soon as the price reaches point R1 and record movement down we open position no.2 (Entry 2 = around the price 1.18805).
option no.2- the price will move towards R1 and if we record a downward movement we enter position no.2 (Entry 2 = around the price 1.18805) in which case enter position no.1 (Entry 1 = around the price 1.18970) does not apply.
option no.3 - the price will develop downwards or rise to the value SL (1.19250), then the positions do not apply and we do not enter these trades.
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(Sell Limit)
Entry 1 = 1.18970
Entry 2 = 1.18805
TP 1 = 1.18360
TP 2 = 1.18120
SL = 1.19250
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-This is not financial advice.
Trade safe!
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option No. 1 - the price breaks through R1 as this resistance is weak and I expect a reflection from the resistance R2, reflection above, as soon as we record a reflection downwards we enter position No. 1 (Entry 1 = around the price 1.18970), as soon as the price reaches point R1 and record movement down we open position no.2 (Entry 2 = around the price 1.18805).
option no.2- the price will move towards R1 and if we record a downward movement we enter position no.2 (Entry 2 = around the price 1.18805) in which case enter position no.1 (Entry 1 = around the price 1.18970) does not apply.
option no.3 - the price will develop downwards or rise to the value SL (1.19250), then the positions do not apply and we do not enter these trades.
===
(Sell Limit)
Entry 1 = 1.18970
Entry 2 = 1.18805
TP 1 = 1.18360
TP 2 = 1.18120
SL = 1.19250
===
-This is not financial advice.
Trade safe!
Comment:
->If you have any questions or concerns, feel free to comment in the comments section. If you like my idea you can support it with like.
Comment:
option no. 3, TP2 hit !!!
option n.3 - if the price breaks downwards we enter the short position, which you will find in my second analysis on -EUR/USD (15min chart) - Entering the position is in case we notice a significant downward movement, entering the position is around 1.18360 and take profit ( TP1) = 1.18120, SL = 1.18805
option n.4 - if the price moves upwards from the support (S) and reaches the value SL (1.19250), none of the above options apply.