Daily recommendations for trading the EUR / USD currency pair: bullish once again above 1.1961


 An idea for selling trading

 Sell short after the reversal of the worth action within the downtrend on the H1 timeframe, a right subsequent touch of 1.2005.

 Set the stop loss point 1 pip above the local swing high.

 Set your stop loss to interrupt even once the trade makes a profit of 20 pips.

 Take 50% of the position as profit when the worth reaches 20 pips of profit and let the remainder of the position run.

 Buy trading ideas

 Trade long after the worth action reverses within the uptrend on the H1 timeframe immediately upon the subsequent touch of 1.1961, 1.1919, or 1.1882.

 Set your stop loss 1 pip below the local swing low.

 Set your stop loss to interrupt even once the trade makes a profit of 20 pips.

 Take 50% of the position as profit when the worth reaches 20 pips of profit and let the remainder of the position run.

 the simplest thanks to defining a classic "price action reversal" is to shut an hourly candle, like a pin bar, a Doji candle, an outdoor candle, or maybe just a sunk candle with a better close. you'll exploit these levels or areas by observing the worth action that happens at the required levels.

 Analysis of the EUR / USD currency pair

 I wrote yesterday that the worth is now likely to rise to check the 1.2000 area. I saw a reversal to the downside here a potentially good long-term sell trade, but the chances of it succeeding weren't strong.

 This was an honest expectation, because the price rose to 1.2000 yesterday, as I had expected, before making a robust reversal within the bearish trend, which I had also expected.

 The strength of the downside move from 1.2000 yesterday indicates that the recent bullish trend is over and therefore the price won't see 1.2000 again for a short time. However, despite falling strongly and breaking it below the price, the worth surprisingly bounced back strongly and regained its consolidation above the support which I amended to 1.1961.

 The USD is being sold everywhere the place today and risk-taking sentiment appears to be stronger, so the speed will likely make another plan to break above the 1.2000 today.

 Nevertheless, it's extremely doubtful whether the worth is going to be ready to settle above 1.2000.

 I might be selling today if we get a robust reversal within the downtrend at 1.2000, or trade long if the NY close is later above 1.2005.




Post a Comment

Previous Post Next Post