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EURUSD is overall bearish trading inside the blue channel and now it is approaching the upper trendline so we will be looking for sell setups on lower timeframes.
on H1: EURUSD is forming a trendline in red but it is not valid yet, so we will be waiting for a third swing to form around it. (projection in purple)
Trigger => Waiting for that swing to form then sell after a momentum candle close below it. (gray area)
Until the sell is activated, EURUSD would be overall bullish and can still trade higher.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
EURUSD is overall bearish trading inside the blue channel and now it is approaching the upper trendline so we will be looking for sell setups on lower timeframes.
on H1: EURUSD is forming a trendline in red but it is not valid yet, so we will be waiting for a third swing to form around it. (projection in purple)
Trigger => Waiting for that swing to form then sell after a momentum candle close below it. (gray area)
Until the sell is activated, EURUSD would be overall bullish and can still trade higher.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich