Hey Rich Friends,
Happy Monday. I think EURUSD will continue to sell this week. This is only my technical analysis so please check the news and cross reference any indicators you have on your own chart. Here is what I am looking at:
- There has been a break of structure to the downside on H4 signaling that price may continue to drop lower.
- After the break of structure, price opened lower and continued to sell.
- Momentum has been picking up for the sellers over the last 12 hours.
- The stochastic is oversold. The slow line (orange) is above the fast line (blue) and one or both lines are below 20.
These are all strong bearish confirmations for me so I will be selling. I took market execution order but I also have sell stops and TPs at previous lows. My SL will be a previous high.
Only take trades that make sense to you, but I hope the market is in our favor this week. Let me know what you think about this idea below.
Peace and Profits,
Cha
Happy Monday. I think EURUSD will continue to sell this week. This is only my technical analysis so please check the news and cross reference any indicators you have on your own chart. Here is what I am looking at:
- There has been a break of structure to the downside on H4 signaling that price may continue to drop lower.
- After the break of structure, price opened lower and continued to sell.
- Momentum has been picking up for the sellers over the last 12 hours.
- The stochastic is oversold. The slow line (orange) is above the fast line (blue) and one or both lines are below 20.
These are all strong bearish confirmations for me so I will be selling. I took market execution order but I also have sell stops and TPs at previous lows. My SL will be a previous high.
Only take trades that make sense to you, but I hope the market is in our favor this week. Let me know what you think about this idea below.
Peace and Profits,
Cha
Trade closed: target reached
TP 1 ang TP 2 HITNote
ALL TPS HIT
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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.