The price of EURUSD has dropped 1.09% on Friday alone, hitting a new low of $1.07129; with that, I expect the price of EURUSD to decline throughout this trading week for these reasons (let me know what you think in the comments and hit the boost if you agree I would appreciate it 💛)
1. This new resistance level you see on the better chart view has 25 bullish candle wicks touching it with the possibility of increasing. I genuinely believe combining it with the profitable bearish candle beside it gives it the potential power and influence to push the price down 150.1 pips from my entry price and eventually hit my take profit - since this resistance level has more bullish candle wicks touching it than the previous resistance level above it, that was able to push the price down 120.5 pips from it in 3 hours = giving this new resistance level an edge and overall making it more effective and influential from a probability perspective
2. This profitable bearish candle that I'm combining with this resistance level has an advantage over the last bearish candle that was successful > the previous wick of this bearish candle is greater than the last bearish previous wick (61), by 114 = a greater previous wick - the more effective and profitable I believe a bearish candle becomes
(BEST CHART VIEW 🌅)
(MY SELL POSITION)
my entry price is $1.07594
the price of my stop loss is between $1.07859 and 1.07605
the price of my take profit is $1.06095
- ALWAYS APPLY RISK MANAGEMENT ✅
1. This new resistance level you see on the better chart view has 25 bullish candle wicks touching it with the possibility of increasing. I genuinely believe combining it with the profitable bearish candle beside it gives it the potential power and influence to push the price down 150.1 pips from my entry price and eventually hit my take profit - since this resistance level has more bullish candle wicks touching it than the previous resistance level above it, that was able to push the price down 120.5 pips from it in 3 hours = giving this new resistance level an edge and overall making it more effective and influential from a probability perspective
2. This profitable bearish candle that I'm combining with this resistance level has an advantage over the last bearish candle that was successful > the previous wick of this bearish candle is greater than the last bearish previous wick (61), by 114 = a greater previous wick - the more effective and profitable I believe a bearish candle becomes
(BEST CHART VIEW 🌅)
(MY SELL POSITION)
my entry price is $1.07594
the price of my stop loss is between $1.07859 and 1.07605
the price of my take profit is $1.06095
- ALWAYS APPLY RISK MANAGEMENT ✅