Support level broken
Pin bar striking the 21sma. Nice signal but I'm looking for a better risk to reward ratio.
Strategy - I'll wait for a bearish engulfing bar/inside bar/pin bar to work with the 8sma for a signal to short.
That will offer a better risk for this short term short - why short term? Flip to the weekly time frame and check the major support where price is now. The long term plan is to buy off support IF price action provides a signal. If the support breaks it would need to be confirmed by price action as well, but I personally think the dollar is about to get weak for the longer term. A move I hope to see start any time from this week/next week...
Don't invest what you can't afford to lose. This is not investment advice. Subjective view/report of a financial product only.
You can learn price action trading at no cost. Join my mailing list to receive more information zc.vg/sf/ZN3TE
Join me in Forex Bootcamp for live updates using the link below.
DISCLAIMER
All information published within this website is purely for educational purposes and offers no guarantees. Profit Fx, Forex Bootcamp and any of its associates cannot be held responsible for any trades that you have executed in any way whatsoever. Please familiarize yourself with the relevant risks involved when trading forex, CFD’s and other products. Any trading is done solely at your own risk. Profit Fx, Forex Bootcamp and any of its associates are in no way employed by any broker or any other legal entity. All information published within this website does not constitute advice, but rather objective information about a financial product and analysis or report of a financial product.
Pin bar striking the 21sma. Nice signal but I'm looking for a better risk to reward ratio.
Strategy - I'll wait for a bearish engulfing bar/inside bar/pin bar to work with the 8sma for a signal to short.
That will offer a better risk for this short term short - why short term? Flip to the weekly time frame and check the major support where price is now. The long term plan is to buy off support IF price action provides a signal. If the support breaks it would need to be confirmed by price action as well, but I personally think the dollar is about to get weak for the longer term. A move I hope to see start any time from this week/next week...
Don't invest what you can't afford to lose. This is not investment advice. Subjective view/report of a financial product only.
You can learn price action trading at no cost. Join my mailing list to receive more information zc.vg/sf/ZN3TE
Join me in Forex Bootcamp for live updates using the link below.
DISCLAIMER
All information published within this website is purely for educational purposes and offers no guarantees. Profit Fx, Forex Bootcamp and any of its associates cannot be held responsible for any trades that you have executed in any way whatsoever. Please familiarize yourself with the relevant risks involved when trading forex, CFD’s and other products. Any trading is done solely at your own risk. Profit Fx, Forex Bootcamp and any of its associates are in no way employed by any broker or any other legal entity. All information published within this website does not constitute advice, but rather objective information about a financial product and analysis or report of a financial product.