$EURUSD | Sell Trade H4 | Execution |
Technical Confluences:
- Stochastics just reversed off Overbought conditions in H4
- Price bounced off 123% Fibo Extension levels which coincides with a Supply Zone from before and also the top of a small Parallel Channel
- Looking at it move towards at least the lower end of the Parallel Channel
Fundamental Confluences:
- With so much of rate cut hype priced into the markets, it seems that market will start to consolidate and start profit taking.
- There are a few speakers who came out to say they don't seem to be in a rush to cut like what the market expect.
-----
Taking my 1st position for this
EURUSD sellb trade.
Targeted trade entry and stops can be seen in the highlighted zone. Blue for Profit Target and Orange for Stop Loss Target.
Risk/Reward ratio of 2.1.
DYOR.
-----
- Stochastics just reversed off Overbought conditions in H4
- Price bounced off 123% Fibo Extension levels which coincides with a Supply Zone from before and also the top of a small Parallel Channel
- Looking at it move towards at least the lower end of the Parallel Channel
Fundamental Confluences:
- With so much of rate cut hype priced into the markets, it seems that market will start to consolidate and start profit taking.
- There are a few speakers who came out to say they don't seem to be in a rush to cut like what the market expect.
-----
Taking my 1st position for this
EURUSD sellb trade. Targeted trade entry and stops can be seen in the highlighted zone. Blue for Profit Target and Orange for Stop Loss Target.
Risk/Reward ratio of 2.1.
DYOR.
-----
Disclaimer: The personal opinion above does not constitute as an investment advice. Any decisions taken based on the above opinion is purely at your own risks. DYOR.
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.