EURUSD | COULD BE A GOOD SELL, BUT MAY NEED PATIENCE...
Hey Traders!
I believe eurusd could be a good sell trade, we had a nice shooting star formed in between 2 moving averages which currently pushed towards the previous strong area of support. Now since the daily volatility has been quite exhausted, I feel we might have a pullback.
So the first trading idea is this:
Wait for the support to break, pullback and enter on bearish candlestick price action.
Second idea is this:
If support does not break, wait till candlesticks reach the 2 moving averages and wait for the development of bearish candlestick price action, if you see a good signal you should sell.
You can then aim to re-test the previous area of sensitivity which would bank you a few pips, and if eventually the support breaks, then you have a solid swing trade entry.
I believe eurusd could be a good sell trade, we had a nice shooting star formed in between 2 moving averages which currently pushed towards the previous strong area of support. Now since the daily volatility has been quite exhausted, I feel we might have a pullback.
So the first trading idea is this:
Wait for the support to break, pullback and enter on bearish candlestick price action.
Second idea is this:
If support does not break, wait till candlesticks reach the 2 moving averages and wait for the development of bearish candlestick price action, if you see a good signal you should sell.
You can then aim to re-test the previous area of sensitivity which would bank you a few pips, and if eventually the support breaks, then you have a solid swing trade entry.