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
This analysis is done using RichTL
www.RichTL.com
My Telegram Channel
www.t.me/thesignalyst
Buy CRGPT on Uniswap
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www.RichTL.com
My Telegram Channel
www.t.me/thesignalyst
Buy CRGPT on Uniswap
cutt.ly/CRGPT
