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Looks like EURUSD is setting up for a scalp long. Historically EURUSD has reliably been a mean-reverting market.
We just had our move down, let's see if we can't make a little USD on the way back up?
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1. We just had our Range MA signal a short term uptrend (Green bar color) and are waiting for this candle to close then providing confirmation of a long signal from Bull/Bear Power on the 4 hour.
2. With the strategy, we want to go long on Bull signals ONLY when Range MA signals an uptrend. Taking profit on any long positions with the Bear signals in an uptrend or trend change (bar color red). Vise versa approach for a downtrend and short position open/close conditions.
3. To the upside, we are looking at R1 - R3 for reactions, although our exit signal will be a Bear signal at candle close at any level.
4. To the downside, we have a support level at S1 where we would also potentially be looking for a Bull signal. Also, note the wick below S1 for a potential area if big money is looking to accumulate by running traders stop losses before a run higher.
Drop a requested Ticker in the comments and we will be sure to take a look ✔️
Like & Follow to help the community grow! 🎉🎉
---
Looks like EURUSD is setting up for a scalp long. Historically EURUSD has reliably been a mean-reverting market.
We just had our move down, let's see if we can't make a little USD on the way back up?
---
1. We just had our Range MA signal a short term uptrend (Green bar color) and are waiting for this candle to close then providing confirmation of a long signal from Bull/Bear Power on the 4 hour.
2. With the strategy, we want to go long on Bull signals ONLY when Range MA signals an uptrend. Taking profit on any long positions with the Bear signals in an uptrend or trend change (bar color red). Vise versa approach for a downtrend and short position open/close conditions.
3. To the upside, we are looking at R1 - R3 for reactions, although our exit signal will be a Bear signal at candle close at any level.
4. To the downside, we have a support level at S1 where we would also potentially be looking for a Bull signal. Also, note the wick below S1 for a potential area if big money is looking to accumulate by running traders stop losses before a run higher.
Note
Confirmed Bullish Signal after the last 4hr close, sadly RMA turned bearish recently so this Bull signal will not be acted on as we don't trade against the trend. There will always be the next one. :)
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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.