EURUSD analysis February 18
Your trading strategy is based on a combination of strong support at 1.044 and signals from the EMA 34. This is a reasonable approach if the correction weakens and buying pressure increases.
Some notes:
Confirmation from price action: If the price reacts strongly to the 1.044 area (such as forming a reversal candlestick pattern or RSI divergence sign), the possibility of a bounce will be higher.
Risk management: Stoploss 1.03900 is quite tight, ensuring low risk. However, if the sellers are strong and break through 1.044, you need to be ready to cut losses to avoid being caught in the downtrend.
Flexible profit taking: TP1 (1.05100) is the nearest resistance zone, you can take partial profits here and move SL to breakeven to optimize profits if the price continues to 1.05700.
You can also keep an eye on momentum indicators or economic news that may affect EUR/USD to make appropriate decisions. 🚀
Some notes:
Confirmation from price action: If the price reacts strongly to the 1.044 area (such as forming a reversal candlestick pattern or RSI divergence sign), the possibility of a bounce will be higher.
Risk management: Stoploss 1.03900 is quite tight, ensuring low risk. However, if the sellers are strong and break through 1.044, you need to be ready to cut losses to avoid being caught in the downtrend.
Flexible profit taking: TP1 (1.05100) is the nearest resistance zone, you can take partial profits here and move SL to breakeven to optimize profits if the price continues to 1.05700.
You can also keep an eye on momentum indicators or economic news that may affect EUR/USD to make appropriate decisions. 🚀
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.
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.