Simple technical and price action analysis.
There is a big potential for shorting EURUSD on a developed WEDGE pattern that has formed in the upside a very interested RSI divergence on 4H timeframe.
Also, on the Daily TF, you can see that the price is getting some resistance around 1,0900 level.
Before explaining the entries, I want to note the 2 possible levels for TP
TP1 - 1,0675 the closest support level
TP2 - 1,0600 a more ambitious target, at the next support level.
There are 3 possible entries for SELL.
1. Super Aggressive - At Monday open, around 1,0850 level - This can bring a minimum 4RR
SL - Above 1,0900
TP - TP 1 should be enough
2. Aggressive - On the break and close of bearish candlestick, under the trend line of the lower part of the wedge, around 1,0800 level
SL - Above 1,0850
TP - firs or second target, that is up t each individual MM
3. Conservative - Break under the lowest point from the wedge trendline, at around 1,0750
SL - Above 1,0850
TP - Best RR will be at target 2.
Don't Stumble Trading. Trade Safe!
There is a big potential for shorting EURUSD on a developed WEDGE pattern that has formed in the upside a very interested RSI divergence on 4H timeframe.
Also, on the Daily TF, you can see that the price is getting some resistance around 1,0900 level.
Before explaining the entries, I want to note the 2 possible levels for TP
TP1 - 1,0675 the closest support level
TP2 - 1,0600 a more ambitious target, at the next support level.
There are 3 possible entries for SELL.
1. Super Aggressive - At Monday open, around 1,0850 level - This can bring a minimum 4RR
SL - Above 1,0900
TP - TP 1 should be enough
2. Aggressive - On the break and close of bearish candlestick, under the trend line of the lower part of the wedge, around 1,0800 level
SL - Above 1,0850
TP - firs or second target, that is up t each individual MM
3. Conservative - Break under the lowest point from the wedge trendline, at around 1,0750
SL - Above 1,0850
TP - Best RR will be at target 2.
Don't Stumble Trading. Trade Safe!