As the 200dma shows this pair is bearish in the long term. Deep pullbacks and small gains each time seem to be the trend here.
Scenario 1 - The 200dma could be touched again and provide resistance. If we see price stalling in this region, that could be a good entry location.
Scenario 2 - Right now, price is at another significant level at 0.8380 and arrived with a strong bearish daily candle. It can continue straight through it on Monday and in that case, I will not get a short entry. My preferred scenario is a break below and a retest of 0.8380 and then a retest. I would then take a short with stop above the high of Friday and target the area above 0.8250. This could be a potentially 2R trade.
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Always use sound money and risk management in all your trades.
Scenario 1 - The 200dma could be touched again and provide resistance. If we see price stalling in this region, that could be a good entry location.
Scenario 2 - Right now, price is at another significant level at 0.8380 and arrived with a strong bearish daily candle. It can continue straight through it on Monday and in that case, I will not get a short entry. My preferred scenario is a break below and a retest of 0.8380 and then a retest. I would then take a short with stop above the high of Friday and target the area above 0.8250. This could be a potentially 2R trade.
If you like my analysis, please give it a “thumbs up” and follow me to get immediate notifications.
Always use sound money and risk management in all your trades.
Trade chiuso: stop raggiunto
Unexpected reversal, stopped out.
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Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.