DLavrov
Short

Entry Level for EUR

FX:EURUSD   Euro / U.S. Dollar
140 0 9
If we look at the daily chart for EURUSD             , we'll see range market conditions. In such case it's better to search entry levels near Bollinger Bands and place profit targets near the middle of such channel or the opposite line. Now we don't have perfect levels from higher time frame but still. We have a strong bearish candle and rising ADX . Will it be the perfect signal for a short trade? I don't think so. But on 4H chart we have a down trend and it's the beggining. Why not to try open the short trade in the beggining on the new trend? We have a bearish candle which closes below Moving Average 50, MACD falls and confirms our short trade. DMI indicator does not confirm possible down movement but at the same time we don't have confirmation for up movement. ADX is below 20 but starts rising. The entry level is 1.10650, a stop order should be placed above 1.11900 and take profit near support level 1.09500.
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