EURUSD <SWING TRADE> <SHORT>
Good day all,
TRADE <SHORT>
Technical Analysis
Trade sentiment: Sell
Why sell?
Confluence 1: Long term outer trend is down, both inner and outer up trendline broken. Currently price is in the sell zone.
Confluence 2: Liquidity zone spotted price reacted multiple times in the past, resistance and support shown as "R" and "S"
Confluence 3: Angle of outer up trendline is lower than last lower high. Which signifies higher probability price being bearish instead of bullish. If price pierces through the backside of outer up trendline then we are bullish.
Confirmation 1: Awaiting price to retest backside of outer up trendline (it will act as moving resistance)
Confirmation 2: Awaiting price to retest liquidity zone for a better area of value.
Confirmation 3: Awaiting multiple doji and momentum slowed candle sticks around liquidity zone.
Entry: If price wicks from liquidity zone to fib zone of 71% we will enter the trade for a better area of value - 1.05947.
If price reacted to liquidity zone with multiple upper wick dojis produced bearish engulfing candle, will enter the trade after candle close in 4H charts.
Stop loss: at fib zone 100% - 1.06270
Take profit 1: at 0% of fib retracement
Take profit 2: at 27% extension levels.
Regards
Athena
TRADE <SHORT>
Technical Analysis
Trade sentiment: Sell
Why sell?
Confluence 1: Long term outer trend is down, both inner and outer up trendline broken. Currently price is in the sell zone.
Confluence 2: Liquidity zone spotted price reacted multiple times in the past, resistance and support shown as "R" and "S"
Confluence 3: Angle of outer up trendline is lower than last lower high. Which signifies higher probability price being bearish instead of bullish. If price pierces through the backside of outer up trendline then we are bullish.
Confirmation 1: Awaiting price to retest backside of outer up trendline (it will act as moving resistance)
Confirmation 2: Awaiting price to retest liquidity zone for a better area of value.
Confirmation 3: Awaiting multiple doji and momentum slowed candle sticks around liquidity zone.
Entry: If price wicks from liquidity zone to fib zone of 71% we will enter the trade for a better area of value - 1.05947.
If price reacted to liquidity zone with multiple upper wick dojis produced bearish engulfing candle, will enter the trade after candle close in 4H charts.
Stop loss: at fib zone 100% - 1.06270
Take profit 1: at 0% of fib retracement
Take profit 2: at 27% extension levels.
Regards
Athena
Note
Trade taken despite no indecision and momentum slowed. Entered at a great area of value
Trade closed: stop reached
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.
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.