Disclaimer don't listen to me, i am a demo trader that has no useful knowledge to spread:
This situation seems to be a clear reversal signal given by the market maker in order to induce the typical retail traders in the wrong direction. As you can see on EUR/USD, the movement has been mainly in the bullish (upwards) direction, we have reached a new high and this...
Price seems to be in contact with a powerful level of support which has been respected on numerous occasions within this week, also since we are on an uptrend we can assume it will continue especially since retracement has already occurred. RSI is at a fairly neutral position which means it does not favour bullish or bearish movement, and since i have valid...
Price seems to be approaching a level on the chart that has historically served as resistance and support, the trade should be taken if the upper trend line is broken, and more so if a candle closes above the trend line. Another supporting factor is that the rsi indicates that price is currently oversold meaning anytime price should even out. A possible tp could...
