On FX:EURUSD0.24% , it is clear that bulls are in control of the price. They pushing the price up and there is no sign of bears yet. So, when do we expect bears to step in and bulls start getting their profits?
The next structure high is at 1.906, however, it is not a strong level to go short. Bears would not lose their battle so easy, as they momentum and big bars show that they are committed to buy.
However, there is a next structure high at 1.1034. This is the resistance level, price respected it few times and it is expected it will do it again. That the best level buyers to lock their profits. Also, most of the institutional orders will be place at red zone. We all know that, big orders mostly placed on key levels.
In addition, there is a potential gartley pattern , which guides where to enter, and exit. This set-up is a good opportunity to go short.
T1 - 38.2%
T2 - 61.8%
The next structure high is at 1.906, however, it is not a strong level to go short. Bears would not lose their battle so easy, as they momentum and big bars show that they are committed to buy.
However, there is a next structure high at 1.1034. This is the resistance level, price respected it few times and it is expected it will do it again. That the best level buyers to lock their profits. Also, most of the institutional orders will be place at red zone. We all know that, big orders mostly placed on key levels.
In addition, there is a potential gartley pattern , which guides where to enter, and exit. This set-up is a good opportunity to go short.
T1 - 38.2%
T2 - 61.8%
Trade closed manually