EURUSD - Two Possible Scenarios!
Hello TradingView Family / Fellow Traders. This is Richard, as known as theSignalyst.
EURUSD has been overall bearish for a while trading inside the brown channel.
However, it is currently sitting around a strong support / demand zone (0.95 - 0.98)
As per my trading style:
Since EURUSD is sitting around a support zone, I will be looking for bullish reversal setups (like a double bottom pattern, trendline break , and so on...)
Unless the 0.95 is broken downward with a daily candle close, then further bearish movement would be expected till the lower demand zone (0.85 - 0.88) where we will be looking for buy setups.
Which scenario do you think is more probable and why?
Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
EURUSD has been overall bearish for a while trading inside the brown channel.
However, it is currently sitting around a strong support / demand zone (0.95 - 0.98)
As per my trading style:
Since EURUSD is sitting around a support zone, I will be looking for bullish reversal setups (like a double bottom pattern, trendline break , and so on...)
Unless the 0.95 is broken downward with a daily candle close, then further bearish movement would be expected till the lower demand zone (0.85 - 0.88) where we will be looking for buy setups.
Which scenario do you think is more probable and why?
Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
Trading Made Simple; and Rule-Based
RichTL.com
Instagram:
instagram.com/richthesignalyst
Telegram:
t.me/thesignalyst
Best CFD broker
cutt.ly/TickmillReal
RichTL.com
Instagram:
instagram.com/richthesignalyst
Telegram:
t.me/thesignalyst
Best CFD broker
cutt.ly/TickmillReal
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