EURUSD Timeframe Agreement & Price Action For Shorts
Trade setup to short based solely on timeframe agreement and price action.
DAILY
good signs of bearishness and signs that price could be oversold (based on linear regression channel)
H4
broken support which was holding up the price
HOURLY
Started to show lower lows and lower highs. Entry based on seeing reversals off of either the upper linear regression channel or the average of linear regression channel.
STOPLOSS PLACEMENT
Using the lower highs on the hourly for stoploss placement, as shown in video.
TAKE PROFIT
1:1 reward to risk seems probable if the price action pans out as described, although scope for a move beyond that.
DAILY
good signs of bearishness and signs that price could be oversold (based on linear regression channel)
H4
broken support which was holding up the price
HOURLY
Started to show lower lows and lower highs. Entry based on seeing reversals off of either the upper linear regression channel or the average of linear regression channel.
STOPLOSS PLACEMENT
Using the lower highs on the hourly for stoploss placement, as shown in video.
TAKE PROFIT
1:1 reward to risk seems probable if the price action pans out as described, although scope for a move beyond that.
Trade closed: target reached:
1:1 hit