Be aware this is a countertrend trade.
While i see more downside on the EURUSD i am currently looking to take a long position if the following requirements are met (as visualized with the red arrow):
- Price takes out the recent swinglow
- Price reclaims TLI 1 and i want to see atleast a tap of it (better an open / close of a candle) above S/R Level 1
- Open long on retest
Target: Below 50% of the range and the next strong resistance level
Stop- Loss: No open/close of a candle below the tap that took out the recent swinglow
Good luck
Disclaimer:
- This information does not constitute as financial advice and is only for educational purposes. I am not your financial advisor.
- You trade entirely at your own risk
- Make your own research
- Finance and trading is evil, capitalism is bad, duh ;)
While i see more downside on the EURUSD i am currently looking to take a long position if the following requirements are met (as visualized with the red arrow):
- Price takes out the recent swinglow
- Price reclaims TLI 1 and i want to see atleast a tap of it (better an open / close of a candle) above S/R Level 1
- Open long on retest
Target: Below 50% of the range and the next strong resistance level
Stop- Loss: No open/close of a candle below the tap that took out the recent swinglow
Good luck
Disclaimer:
- This information does not constitute as financial advice and is only for educational purposes. I am not your financial advisor.
- You trade entirely at your own risk
- Make your own research
- Finance and trading is evil, capitalism is bad, duh ;)
Note
Price closed under TLI 1 - lets see if we get an reclaimNote
So far no reclaimTrade closed: stop reached
Forgot to update the idea. S-L was triggered
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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.
Related publications
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.