Analysis:
-So we have seen eurusd push up for some time, and at the moment we can possibly see a double top forming.
-Our RSI indicates that this pair is overbought on the 1D,4HR,2HR charts
-We have a major resistance on the 1&2HR charts at 1.595 ZONE
-our next major support is at 1.15425 ZONE
-The pair is in an upwards trend so we wait for confirmation to sell
-CONFIRMATION == resists the resistance zone and breaks the channel, then we sell
-We can expect this pair to come down and test the channel support line ,if it breaks the upwards channel the pair can push down till 1.1547
-with this setup we have a small risk, high reward setup
-1:3 RISK:REWARD ratio
Leave a like and feel free to comment your thoughts
-So we have seen eurusd push up for some time, and at the moment we can possibly see a double top forming.
-Our RSI indicates that this pair is overbought on the 1D,4HR,2HR charts
-We have a major resistance on the 1&2HR charts at 1.595 ZONE
-our next major support is at 1.15425 ZONE
-The pair is in an upwards trend so we wait for confirmation to sell
-CONFIRMATION == resists the resistance zone and breaks the channel, then we sell
-We can expect this pair to come down and test the channel support line ,if it breaks the upwards channel the pair can push down till 1.1547
-with this setup we have a small risk, high reward setup
-1:3 RISK:REWARD ratio
Leave a like and feel free to comment your thoughts
Trade active
Selling nowTp: 1.508
Sl: 1.6077
Note
I closed my position I gained 5% of my account, you can keep it open if you want or go into a risk free trade(put SL on entry)
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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.