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Eurusdsetup

Trading Idea Regarding EURUSDAccording to my analysis this currency pair is going bearish inshallah My Analysis consist of the Fallowing Four Steps 1------->Behavior: *Market Structure(M.S)------> Moving in side ways direction after strong move to the upside in 4 hour Time Frame *S&R------> Price has reached strong resistance zone(Bearish move is expected) *Trend Line------> Price has reached strong falling resistance zone (Bearish Behavior) 2------>Momentum: *Previous Candle Close(P.C.C)------> Bullish close (a little pull back is expected before continuation of downtrend) *Current Candle Close(C.C.C)------> Inverted hammer appear in pull back and close bearish(continuation of downtrend) 3------>Chart Pattern M30 Time Frame: *Breakout Raising Channel------>Breakout the raising channel and now retesting it indicating continuation of bearish behavior *Double Top Chart Pattern------>Has created the double top chart pattern which also indicating continuation of bearish behavior 4------>Entry/Exit Point: *Entering Point------> Enter the market after the breakout of the structural low of double top chart pattern *Exit Point------> *Stop Loss------> Stop Loss above the structural High *Target------> TP1 Strong Support zone in 30 mint Time Frame *Target------> TP2 Strong Support zone in 30 mint Time Frame
Short
by Inzamam9012