General
EURUSD price beeing rejected by that s/r level (area 1 also in confluence with the 50% Fib. I currently debating if thats the actual range. But for now i will keep it like that.
1. Long (Green arrow)
Requirements
- Price moves above area 1 and forms a swing
- Prices moves down and when passing the formed swing enter the trade
Target
Former resistance level (level 2) also the possible actual top of the range.
Invalidation
- Loss of area 1 after retake AND generating lower swings after
Stop- Loss
- Under area 1
Time duration
Days, weeks, months, years... ;)
2. Long (Yellow arrow)
Requirements
- Price falls under level 1
- Retake of level 1 and forming a swing
- Enter on break of that swing
Target
Next big s/r area and 50% Fib (area 1)
Invalidation
- Loss of level 1 and no retake
Stop- Loss
- Slightly under the swing low formed after breaking level 1
Time duration
Days, weeks, months, years... ;)
1. Short (Red arrow)
Requirements
- Price falls under level 1
- Price forms a swing low
- Enter on break of that swing
Target
Slightly above the range low
Invalidation
- Retake of level 1 after breaking under it
Stop- Loss
- Slightly above level 1
Time duration
Days, weeks, months, years... ;)
Good luck
EURUSD price beeing rejected by that s/r level (area 1 also in confluence with the 50% Fib. I currently debating if thats the actual range. But for now i will keep it like that.
1. Long (Green arrow)
Requirements
- Price moves above area 1 and forms a swing
- Prices moves down and when passing the formed swing enter the trade
Target
Former resistance level (level 2) also the possible actual top of the range.
Invalidation
- Loss of area 1 after retake AND generating lower swings after
Stop- Loss
- Under area 1
Time duration
Days, weeks, months, years... ;)
2. Long (Yellow arrow)
Requirements
- Price falls under level 1
- Retake of level 1 and forming a swing
- Enter on break of that swing
Target
Next big s/r area and 50% Fib (area 1)
Invalidation
- Loss of level 1 and no retake
Stop- Loss
- Slightly under the swing low formed after breaking level 1
Time duration
Days, weeks, months, years... ;)
1. Short (Red arrow)
Requirements
- Price falls under level 1
- Price forms a swing low
- Enter on break of that swing
Target
Slightly above the range low
Invalidation
- Retake of level 1 after breaking under it
Stop- Loss
- Slightly above level 1
Time duration
Days, weeks, months, years... ;)
Good luck
Note
Price went below S/R level 1(blue line). Lets see if we see the retest and break lower (Red arrow)
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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.