CHANNEL RESISTANCE+ 100D EMA+TRIPLE TOP: SELL EURUSD
Hello Traders! In my previous ideas, I predicted that EURUSD will probably BOUNCE from 1.1109 area and that is exactly what happened last week.
Through this idea, I would like to draw your attention towards a POTENTIAL SELL SET-UP that can come to fruition this week.
As you can see EURUSD is approaching THREE STRONG RESISTANCES:
1) TOP of the BEARISH CHANNEL.
2) PREVIOUS DOUBLE TOP which can be a potential TRIPLE TOP.
3) 100D EMA which will act as a strong resistance.
The combination of these THREE resistances gives us a STRONG BEARISH BIAS.
So, DEPENDING ON BEARISH PRICE ACTION, traders can look for SELL at 1.1268-1.1300 with SL above 1.1337
TPs can be set at 1.1180, 1.1100 and 1.1040 respectively.
Through this idea, I would like to draw your attention towards a POTENTIAL SELL SET-UP that can come to fruition this week.
As you can see EURUSD is approaching THREE STRONG RESISTANCES:
1) TOP of the BEARISH CHANNEL.
2) PREVIOUS DOUBLE TOP which can be a potential TRIPLE TOP.
3) 100D EMA which will act as a strong resistance.
The combination of these THREE resistances gives us a STRONG BEARISH BIAS.
So, DEPENDING ON BEARISH PRICE ACTION, traders can look for SELL at 1.1268-1.1300 with SL above 1.1337
TPs can be set at 1.1180, 1.1100 and 1.1040 respectively.
Commento:
This set-up is a scalper's paradise. Generating 50-70 pips everytime price goes into my sell zone