Here as you can see the market hit the top ( supply zone ) for the third time & it got rejected by the sellers pressure.
It's the best time to SELL the EURUSD, so DON'T MISS THE OPPORTUNITY ! !
CONFIRMATIONS:
1. --> STRONG REJECTION ( Sellers react when the price goes to the top).
2. --> DXY CORELLATION ( DXY-USD currency index it shows signs for a bullish move, that means the opposite for the EURUSD )
3. --> CORRECTIVE MOVE ( As you can see the market hit the top with a corrective move, which means no big bullish volume .
4. --> PRICE ACTION ( Multiple indecision candlesticks at lower timeframes).
---> Watch if the market goes closer to the top for a better entry but with this stop loss it covers the top plus 5 pips.
WHERE SHOULD I PUT MY STOP LOSS?
You need to put your stop loss 5 pips above the supply area/top.
WHERE DO I TAKE MY PROFITS?
You need to have a trading plan the moment you enter the trade.
In my opinion at 1:1 move on Break Even and at 1:2 take 50% parochial profits & at 1:3 the rest 50% OR extend your target ( IF price actions is in your favor)
It's the best time to SELL the EURUSD, so DON'T MISS THE OPPORTUNITY ! !
CONFIRMATIONS:
1. --> STRONG REJECTION ( Sellers react when the price goes to the top).
2. --> DXY CORELLATION ( DXY-USD currency index it shows signs for a bullish move, that means the opposite for the EURUSD )
3. --> CORRECTIVE MOVE ( As you can see the market hit the top with a corrective move, which means no big bullish volume .
4. --> PRICE ACTION ( Multiple indecision candlesticks at lower timeframes).
---> Watch if the market goes closer to the top for a better entry but with this stop loss it covers the top plus 5 pips.
WHERE SHOULD I PUT MY STOP LOSS?
You need to put your stop loss 5 pips above the supply area/top.
WHERE DO I TAKE MY PROFITS?
You need to have a trading plan the moment you enter the trade.
In my opinion at 1:1 move on Break Even and at 1:2 take 50% parochial profits & at 1:3 the rest 50% OR extend your target ( IF price actions is in your favor)