EURUSD / 4H
Hello trader, welcome back to another market breakdown.
EURUSD has been trading in a down-trend. As a trend following strategy, traders look to short pull backs.
The price is having a second leg pull-back. An idea to short the market is to wait for the pull-back to finish, then wait for confirmation for a swing down. However, we should note that the price is in 7 years trading range. So, bulls are looking at this as reversal, There are some sellers trapped down so bears will scale in to at least get out at breakeven. More likely, the first attempt to reverse would be minor.
Trade safe,
Trader Leo.
Hello trader, welcome back to another market breakdown.
EURUSD has been trading in a down-trend. As a trend following strategy, traders look to short pull backs.
The price is having a second leg pull-back. An idea to short the market is to wait for the pull-back to finish, then wait for confirmation for a swing down. However, we should note that the price is in 7 years trading range. So, bulls are looking at this as reversal, There are some sellers trapped down so bears will scale in to at least get out at breakeven. More likely, the first attempt to reverse would be minor.
Trade safe,
Trader Leo.
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m.youtube.com/@beatthemarket4871
Our recommended broker EightCap: join.eightcap.com/visit/?bta=37691&brand=eightcap