Hello everyone this is my idea for Euro/Usd on daily time frame
Few things to keep on mind ..
Overall trend is bullish .. and we have two breakout to the upside as i point out in chart ..
However we could be due for a small correction which is healthy to resume to the trend
Price has tested the red line which is a very strong resistance and selling barrier .. Price got rejected
A pattern could be folding right now which is head and shoulder if few conditions happen ..
Pink line is holding as support .. and we know strong support breaks it becomes strong resistance ..
For short entries .. I have two signal .. to go short
If price make a daily candle close below pink line we can go short to target Zone below or green line as long as price doesn't close above pink line ( daily candle close )
if price close below pink line we can wait for a retest of pink line to go short target zone below and green line as long as ( no daily close above pink line )
There is a hint in the RSI indicator which is the orange line
If price breach this line we can start the downtrend and also this orange line can be resistance ..
for any question feel free to ask :)
Few things to keep on mind ..
Overall trend is bullish .. and we have two breakout to the upside as i point out in chart ..
However we could be due for a small correction which is healthy to resume to the trend
Price has tested the red line which is a very strong resistance and selling barrier .. Price got rejected
A pattern could be folding right now which is head and shoulder if few conditions happen ..
Pink line is holding as support .. and we know strong support breaks it becomes strong resistance ..
For short entries .. I have two signal .. to go short
If price make a daily candle close below pink line we can go short to target Zone below or green line as long as price doesn't close above pink line ( daily candle close )
if price close below pink line we can wait for a retest of pink line to go short target zone below and green line as long as ( no daily close above pink line )
There is a hint in the RSI indicator which is the orange line
If price breach this line we can start the downtrend and also this orange line can be resistance ..
for any question feel free to ask :)