1. Breakout from support
2. Tested as resistance
3. 21 sma pinned
4. Fibonacci zone pinned
5. Capped trend line confirming bearish trend
These are all signs that price is likely to reverse. For this type of setup stops are best placed above the 61.8% fibo level and the target must be at least 2x that of the stop. It is my personal opinion that this pair has a substantial down side potential when analyzing the higher time frames.
Don't invest what you can't afford to lose. This is not investment advice. Subjective view/report of a financial product only.
You can learn price action trading at no cost. Join my mailing list to receive more information zc.vg/sf/ZN3TE
Join me in Forex Bootcamp for live updates using the link below.
DISCLAIMER
All information published within this website is purely for educational purposes and offers no guarantees. Profit Fx, Forex Bootcamp and any of its associates cannot be held responsible for any trades that you have executed in any way whatsoever. Please familiarize yourself with the relevant risks involved when trading forex, CFD’s and other products. Any trading is done solely at your own risk. Profit Fx, Forex Bootcamp and any of its associates are in no way employed by any broker or any other legal entity. All information published within this website does not constitute advice, but rather objective information about a financial product and analysis or report of a financial product.
2. Tested as resistance
3. 21 sma pinned
4. Fibonacci zone pinned
5. Capped trend line confirming bearish trend
These are all signs that price is likely to reverse. For this type of setup stops are best placed above the 61.8% fibo level and the target must be at least 2x that of the stop. It is my personal opinion that this pair has a substantial down side potential when analyzing the higher time frames.
Don't invest what you can't afford to lose. This is not investment advice. Subjective view/report of a financial product only.
You can learn price action trading at no cost. Join my mailing list to receive more information zc.vg/sf/ZN3TE
Join me in Forex Bootcamp for live updates using the link below.
DISCLAIMER
All information published within this website is purely for educational purposes and offers no guarantees. Profit Fx, Forex Bootcamp and any of its associates cannot be held responsible for any trades that you have executed in any way whatsoever. Please familiarize yourself with the relevant risks involved when trading forex, CFD’s and other products. Any trading is done solely at your own risk. Profit Fx, Forex Bootcamp and any of its associates are in no way employed by any broker or any other legal entity. All information published within this website does not constitute advice, but rather objective information about a financial product and analysis or report of a financial product.