On
EURUSD
, there is an opportunity for SHORT on Monday
1. The price is at resistance zone at 1.0871. Price respected this level few times and it is more likely that it will do again.
2. Trendline (Blue line, dynamic resistance) exactly hits the our reversal zone (red area)
3. Fibonnaci retracment 38% is at the same level.
4. The bars made tweezers, which is also reversal signal.
5. Divergence
These 5 confluences give this setup high probability rate to sell EUR. I wait market to be opnned and then enter the trade. Put your SL above the resistance level. It is important to give some room to avoid spike and noise moves, when the market opens.
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EURUSD
, there is an opportunity for SHORT on Monday 1. The price is at resistance zone at 1.0871. Price respected this level few times and it is more likely that it will do again.
2. Trendline (Blue line, dynamic resistance) exactly hits the our reversal zone (red area)
3. Fibonnaci retracment 38% is at the same level.
4. The bars made tweezers, which is also reversal signal.
5. Divergence
These 5 confluences give this setup high probability rate to sell EUR. I wait market to be opnned and then enter the trade. Put your SL above the resistance level. It is important to give some room to avoid spike and noise moves, when the market opens.
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Trading Books Online - www.trading-library.com
TOP 10 Forex Broker: www.best10forex.com
Comment:
The market is opened with a gap.Bulls quickly filled it. Now bears start getting their power and push the price down.
