EurUsd (Short)
As of right now price is visiting a previous important swing level. this makes me very intrested in going short. but there are a few things to think about before entering into this trade Short.
First things first: We need to realise that the sellers have not yet proven that they want to take price lower. the first indication for going lower would be a break of the Bullish short term trendline followed by a break of the Moving average. (Be careful) Dont be fooled to go short just because it breaks the bullish trend line. i will be waiting for a very specific type of entry pattern to enter, but you should atleast wait for price to break the moving average with a strong Bearish candle. I Repeat!!! Dont be fooled to sell just because price breaks the trendline. (Wait and see if the buyers still wanna control this market att the moving average).
Targets: Target #1 is placed att the previous lows. (once price hits the previous lows T1 @1,03864 we i will look to take some profit off the table and let the rest of the position go for T2 @1,01115)
The reason i wont hold on to my full position size the whole way down to T2 on one go, is because this can easily become a range between @1,07627 and @1,03864.
Look Out For: If you look closely att the area of @1,05847 you will see a slighty important support level that the buyers "might" want to use to keep taking price higher. so be careful!!
Trade on your own risk, and excuse my bad spelling.
#Happytrading
As of right now price is visiting a previous important swing level. this makes me very intrested in going short. but there are a few things to think about before entering into this trade Short.
First things first: We need to realise that the sellers have not yet proven that they want to take price lower. the first indication for going lower would be a break of the Bullish short term trendline followed by a break of the Moving average. (Be careful) Dont be fooled to go short just because it breaks the bullish trend line. i will be waiting for a very specific type of entry pattern to enter, but you should atleast wait for price to break the moving average with a strong Bearish candle. I Repeat!!! Dont be fooled to sell just because price breaks the trendline. (Wait and see if the buyers still wanna control this market att the moving average).
Targets: Target #1 is placed att the previous lows. (once price hits the previous lows T1 @1,03864 we i will look to take some profit off the table and let the rest of the position go for T2 @1,01115)
The reason i wont hold on to my full position size the whole way down to T2 on one go, is because this can easily become a range between @1,07627 and @1,03864.
Look Out For: If you look closely att the area of @1,05847 you will see a slighty important support level that the buyers "might" want to use to keep taking price higher. so be careful!!
Trade on your own risk, and excuse my bad spelling.
#Happytrading