"EUR/USD: Short Opportunities Await - Seize the Downtrend!"
Dear Tradingview Family,
As an experienced crypto and forex trader, I have analyzed the chart and data of #EUR_USD and identified two potential trade ideas.
Symbol: #EUR_USD
Strategy: #Trendline #Support_Resistance #RSI #rsi_Bearish_Divergence #Fibonacci_Retracement #Swing_Highs #Swing_Lows #Dow_Theory #Double_Top #Rising_Wedge #Golden Ratio
TRADE IDEA 1:
Trade Call Type: #LONG.
Order Type: Buy Limit
Indicators: #Price_Action., #Trendline #Support_Resistance #RSI. #Fibonacci_Retracement #RichTL #Dow_Theory
Entry: LONG when price retrace to area of value on Fibo Retracement Level 0.618 Golden Ratio
Anchor Time: 4 Hours
Trading Time Frame: 1 Hours.
Entry price: 1.09401
Take Profit: 1.07901
Stop Loss: 1.10062
RRR- 1:2.27
-------------------
TRADE IDEA 2:
Trade Call Type: #LONG.
Order Type: Buy Stop
Indicators: #Price_Action., #Trendline #Support_Resistance #RSI. #Fibonacci_Retracement #RichTL #Dow_Theory
Entry: LONG when price breaks the previous Higher Low.
Anchor Time: 4 Hours
Trading Time Frame: 1 Hours.
Entry price: 1.08783
Take Profit: 1.07237
Stop Loss: 1.10067
RRR- 1:1.2
-----------------------------
TECHNICAL ANALYSIS
TRADE IDEA 1:
The first trade idea is a short position with a sell limit order. I recommend selling the pair when the price retraces to the area of value on the Fibonacci retracement level 0.618 Golden Ratio. This area is considered a potential resistance level, and the price may reverse from this level.
To confirm this trade, I have considered the price action, trendline, support/resistance, RSI, and Dow Theory. These indicators suggest that the pair may decline in the near term.
I recommend setting the anchor time at 4 hours and the trading time frame at 1 hour. The entry price is 1.09401, take profit is 1.07901, and stop loss is 1.10062. The RRR (Risk-to-Reward Ratio) for this trade is 1:2.27.
TRADE IDEA 2:
The second trade idea is also a short position, but this time with a sell stop order. I recommend selling the pair when the price breaks the previous higher low. This break suggests that the pair is losing momentum and may continue to decline in the near term.
To confirm this trade, I have considered the price action, trendline, support/resistance, RSI, and Dow Theory. These indicators suggest that the pair may decline in the near term.
I recommend setting the anchor time at 4 hours and the trading time frame at 1 hour. The entry price is 1.08783, take profit is 1.07237, and stop loss is 1.10067. The RRR for this trade is 1:1.2.
Overall, these two trade ideas suggest that the pair may decline in the near term, and traders may consider these opportunities to capitalize on the potential downtrend. However, traders should be aware of the risks associated with forex trading and use proper risk management strategies to mitigate losses.
Methodology:
As a professional and experienced forex, crypto and stocks trader, I will be using a rigorous methodology that involves analyzing the price action and key levels and using a combination of indicators, harmonic chart patterns and chart patterns. I will be looking for potential trendlines , support & resistance levels, FIBONACCI retracement and Dow theory where the price action may reverse and using our indicators to confirm the validity of our analysis. Based on my analysis, I will then determine the optimal entry and exit points for our trade, as well as the appropriate stop loss level to manage risk.
Conclusion:
Based on our analysis, I believe that there is a potential trading opportunity for a SHORT trade.
Risk Assessment:
Conservative Traders risk 0.5% to 1.5%, moderator traders risk 1.6% to 3.5% and aggressive traders risk 3.6% to 5% of their account per trade.
Please use Position size calculator to calculate your risk per trade.
Overall, I believe this setup has a good chance of success based on the technical analysis , but as always, it's important to monitor the price action closely and adjust the trade if necessary based on new information.
As an experienced crypto and forex trader, I have analyzed the chart and data of #EUR_USD and identified two potential trade ideas.
Symbol: #EUR_USD
Strategy: #Trendline #Support_Resistance #RSI #rsi_Bearish_Divergence #Fibonacci_Retracement #Swing_Highs #Swing_Lows #Dow_Theory #Double_Top #Rising_Wedge #Golden Ratio
TRADE IDEA 1:
Trade Call Type: #LONG.
Order Type: Buy Limit
Indicators: #Price_Action., #Trendline #Support_Resistance #RSI. #Fibonacci_Retracement #RichTL #Dow_Theory
Entry: LONG when price retrace to area of value on Fibo Retracement Level 0.618 Golden Ratio
Anchor Time: 4 Hours
Trading Time Frame: 1 Hours.
Entry price: 1.09401
Take Profit: 1.07901
Stop Loss: 1.10062
RRR- 1:2.27
-------------------
TRADE IDEA 2:
Trade Call Type: #LONG.
Order Type: Buy Stop
Indicators: #Price_Action., #Trendline #Support_Resistance #RSI. #Fibonacci_Retracement #RichTL #Dow_Theory
Entry: LONG when price breaks the previous Higher Low.
Anchor Time: 4 Hours
Trading Time Frame: 1 Hours.
Entry price: 1.08783
Take Profit: 1.07237
Stop Loss: 1.10067
RRR- 1:1.2
-----------------------------
TECHNICAL ANALYSIS
TRADE IDEA 1:
The first trade idea is a short position with a sell limit order. I recommend selling the pair when the price retraces to the area of value on the Fibonacci retracement level 0.618 Golden Ratio. This area is considered a potential resistance level, and the price may reverse from this level.
To confirm this trade, I have considered the price action, trendline, support/resistance, RSI, and Dow Theory. These indicators suggest that the pair may decline in the near term.
I recommend setting the anchor time at 4 hours and the trading time frame at 1 hour. The entry price is 1.09401, take profit is 1.07901, and stop loss is 1.10062. The RRR (Risk-to-Reward Ratio) for this trade is 1:2.27.
TRADE IDEA 2:
The second trade idea is also a short position, but this time with a sell stop order. I recommend selling the pair when the price breaks the previous higher low. This break suggests that the pair is losing momentum and may continue to decline in the near term.
To confirm this trade, I have considered the price action, trendline, support/resistance, RSI, and Dow Theory. These indicators suggest that the pair may decline in the near term.
I recommend setting the anchor time at 4 hours and the trading time frame at 1 hour. The entry price is 1.08783, take profit is 1.07237, and stop loss is 1.10067. The RRR for this trade is 1:1.2.
Overall, these two trade ideas suggest that the pair may decline in the near term, and traders may consider these opportunities to capitalize on the potential downtrend. However, traders should be aware of the risks associated with forex trading and use proper risk management strategies to mitigate losses.
Methodology:
As a professional and experienced forex, crypto and stocks trader, I will be using a rigorous methodology that involves analyzing the price action and key levels and using a combination of indicators, harmonic chart patterns and chart patterns. I will be looking for potential trendlines , support & resistance levels, FIBONACCI retracement and Dow theory where the price action may reverse and using our indicators to confirm the validity of our analysis. Based on my analysis, I will then determine the optimal entry and exit points for our trade, as well as the appropriate stop loss level to manage risk.
Conclusion:
Based on our analysis, I believe that there is a potential trading opportunity for a SHORT trade.
Risk Assessment:
Conservative Traders risk 0.5% to 1.5%, moderator traders risk 1.6% to 3.5% and aggressive traders risk 3.6% to 5% of their account per trade.
Please use Position size calculator to calculate your risk per trade.
Overall, I believe this setup has a good chance of success based on the technical analysis , but as always, it's important to monitor the price action closely and adjust the trade if necessary based on new information.