Trading Idea: Counter-Trend Trading Opportunities on EURUSD
EURUSD has an overall bearish trend. At this point, many counter-trend traders, including myself, are looking for counter-trend trading opportunities. We've had some luck in this regard.
Analysis:
Daily Chart:
- Bullish Shark Pattern: Confirmation is formed, suggesting potential for a counter-trend move.
4-Hourly Chart:
- Falling Wedge Trading Setup: Provides a setup to go long and take advantage of the bullish pattern on the daily chart.
Strategy:
- Bullish Shark Pattern: Use this confirmation on the daily chart to inform your decision.
- 4-Hourly Chart Long Entry: Look for entry points based on the Falling Wedge setup.
- Entry: On breakout above the wedge.
- Stop-Loss: Below the recent swing low within the wedge.
- Target: Aim for key resistance levels that align with the daily chart's bullish shark pattern projections.
Key Points:
- Counter-Trend Trading: Recognize the overall bearish trend but exploit the temporary bullish setup.
- Pattern Confirmation: Use pattern confirmations on higher timeframes to guide entries on lower timeframes.
- Risk Management: Ensure proper stop-loss placement to manage risk effectively.
What’s your take on EURUSD? Do you see any additional opportunities or setups? Share your thoughts and strategies below!
Analysis:
Daily Chart:
- Bullish Shark Pattern: Confirmation is formed, suggesting potential for a counter-trend move.
4-Hourly Chart:
- Falling Wedge Trading Setup: Provides a setup to go long and take advantage of the bullish pattern on the daily chart.
Strategy:
- Bullish Shark Pattern: Use this confirmation on the daily chart to inform your decision.
- 4-Hourly Chart Long Entry: Look for entry points based on the Falling Wedge setup.
- Entry: On breakout above the wedge.
- Stop-Loss: Below the recent swing low within the wedge.
- Target: Aim for key resistance levels that align with the daily chart's bullish shark pattern projections.
Key Points:
- Counter-Trend Trading: Recognize the overall bearish trend but exploit the temporary bullish setup.
- Pattern Confirmation: Use pattern confirmations on higher timeframes to guide entries on lower timeframes.
- Risk Management: Ensure proper stop-loss placement to manage risk effectively.
What’s your take on EURUSD? Do you see any additional opportunities or setups? Share your thoughts and strategies below!
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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.
🕒 15mins workday for Young Parents
🏦 Qualify Junior Analyst within 90days
🎤 Keynote Speaker
Get into our 15mins workday community
discord.gg/AKDr9vPqH7
Live session & Trading Tips on the GO
instagram.com/raynlim/
🏦 Qualify Junior Analyst within 90days
🎤 Keynote Speaker
Get into our 15mins workday community
discord.gg/AKDr9vPqH7
Live session & Trading Tips on the GO
instagram.com/raynlim/
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.