EURUSD (Update)_3rd Week of Feb 2022
What information can we derived on EURUSD daily chart?
1. Price rejected the structural level with massive selloff last Friday
2. Price is currently on upper daily stoch level which means to go long on EURUSD is not recommended
3. We spotted a 3rd leg Diversion may about to happen which we predict the next direction of price could potentially go
Price may retest minor trendline and would wait for clear price action/pattern on lower TF before taking any position
Overall bias = Bearish
Using simple entry technique
Step 1:
Waiting for the price to break below the correction trendline
Step 2:
Waiting for HL & LL structure (Best if the price retest at the broken trendline)
Step 3:
Entry point after 2 items above has fully satisfied with SL above the highest candle. Use any indicator that suits you
1. Price rejected the structural level with massive selloff last Friday
2. Price is currently on upper daily stoch level which means to go long on EURUSD is not recommended
3. We spotted a 3rd leg Diversion may about to happen which we predict the next direction of price could potentially go
Price may retest minor trendline and would wait for clear price action/pattern on lower TF before taking any position
Overall bias = Bearish
Using simple entry technique
Step 1:
Waiting for the price to break below the correction trendline
Step 2:
Waiting for HL & LL structure (Best if the price retest at the broken trendline)
Step 3:
Entry point after 2 items above has fully satisfied with SL above the highest candle. Use any indicator that suits you
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