EU BEARISH MOVE EXPLAINED +60 PIPS
Updated
Hey Rich Friends,
I forgot to post the initial idea for this EU Bearish move but I was happy to see the market went in my favor!
I analyzed the market around 10:00 AM EST on July 24, 2003, to get my confirmations and set a sell limit at 1.10850. When I am looking for a sale, here are the things I look for with my strategy:
1. Candles are forming below one or both EMAs (50 and 200)
2. The MOM is facing down and/or below 0
3. STOCH is facing down and/or below 50 and/or the orange line is above the blue line.
All of these conditions were met so I decided to take the trade.
I hope this was helpful.
I forgot to post the initial idea for this EU Bearish move but I was happy to see the market went in my favor!
I analyzed the market around 10:00 AM EST on July 24, 2003, to get my confirmations and set a sell limit at 1.10850. When I am looking for a sale, here are the things I look for with my strategy:
1. Candles are forming below one or both EMAs (50 and 200)
2. The MOM is facing down and/or below 0
3. STOCH is facing down and/or below 50 and/or the orange line is above the blue line.
All of these conditions were met so I decided to take the trade.
I hope this was helpful.
Trade closed: target reached
Note
You can register for my course here:themoneymantra.talentlms.com/plus/external-catalog
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.