Hello traders, I hope you're having a wonderful week this is LINKHIVE!! Lets dive deep into this trade.
EUR has been bullish for quite a while now but after that that deep pullback I think EUR is going to fall. I don't trade any fundamentals but I do look at almost all Forex pairs and EUR is looking bearish ( also it's great friend GBP is looking quite bearish)
Diving deep into the 2H we can see that beautiful round number at 172.000 . If you pay attention to the price action around that number you will see that we struggled to close below it but now that we closed below it we are now retesting with a flag.
I've already shown you the higher tf and we all know that EURJPY is in a downtrend but for me to enter this trade I will wait for the breakout as indicated with the blue arrow.
*Indicators*
I have a few indicators that I use but for this trade the macD is good. I use default settings.
A drop in momentum and divergence further validates our trades.
EUR has been bullish for quite a while now but after that that deep pullback I think EUR is going to fall. I don't trade any fundamentals but I do look at almost all Forex pairs and EUR is looking bearish ( also it's great friend GBP is looking quite bearish)
Diving deep into the 2H we can see that beautiful round number at 172.000 . If you pay attention to the price action around that number you will see that we struggled to close below it but now that we closed below it we are now retesting with a flag.
I've already shown you the higher tf and we all know that EURJPY is in a downtrend but for me to enter this trade I will wait for the breakout as indicated with the blue arrow.
*Indicators*
I have a few indicators that I use but for this trade the macD is good. I use default settings.
A drop in momentum and divergence further validates our trades.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.