POTENTIAL SHORTS ON EUR/USD
EUR/USD 15M - As you can see price has been respecting areas of Supply breaking lows and creating new lower lows and highs in the market. This suggesting that the Supply in the market is outweighing the Demand in the market.
In order for me to look to go short in this market now we want to see price reject well from this area I have marked out, continuing to respect areas of Supply in the market. For those of you who want additional confirmation before entering I would wait for price to break the last low set.
This would confirm to us that the fractal correction that is currently taking place is over and a new leg to the downside is ready to take place. I would set my SL above the high that has just recently been created as that should in the laws of bearishness be protected.
I have gone ahead and set my Take Profit target price lower, just above the last higher timeframe low, as realistically that should be broken to go on to set a new lower low should price continue to trade us in a bearish way.
In order for me to look to go short in this market now we want to see price reject well from this area I have marked out, continuing to respect areas of Supply in the market. For those of you who want additional confirmation before entering I would wait for price to break the last low set.
This would confirm to us that the fractal correction that is currently taking place is over and a new leg to the downside is ready to take place. I would set my SL above the high that has just recently been created as that should in the laws of bearishness be protected.
I have gone ahead and set my Take Profit target price lower, just above the last higher timeframe low, as realistically that should be broken to go on to set a new lower low should price continue to trade us in a bearish way.
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