EURUSD → Short to 1.06? Or Will we Break Resistance to Long?

EURUSD was rejected twice at the Resistance Zone and ended last week with another leg up. Should we short here?


How do we trade this? 🤔

EURUSD → Short to 1.06? Or Will we Break Resistance to Long?

We had a decent entry last week, but that ended with a surprise leg up into the Resistance Zone. We now have a sell signal at the top of the zone, but need to wait for a strong bear bar closing on or near its low below the Resistance Zone around the 1.10 area. Stop loss should be placed above the Resistance Zone and set a take profit around 1:2 Risk/Reward at 1.065. It's also reasonable to take half profits at 1:1 Risk/Reward and swing the remainder of your position.


💡 Trade Ideas 💡

Short Entry: 1.09835
🟥 Stop Loss: $1.1150
✅ Take Profit: 1.06500
⚖️ Risk/Reward Ratio: 1:2


🔑 Key Takeaways 🔑

1. Contact with Resistance Zone and Two Bear Bars
2. Look for Follow-Through and a close below Resistance Zone.
3. 1:2 Risk/Reward Ratio, Watch Out for Support at EMA Ribbons.
4. RSI at 60.00 and above Moving Average, Needs to Fall Below.
5. Also Reasonable to Scalp 1:1 and Move Stop Up to Entry.


💰 Trading Tip 💰
All trades carry a probability value based on statistical data of the price action. If the market exceeds 60% probability in a direction, it's reasonable to take the trade assuming your Risk/Reward and Probability are positive.


⚠️ Risk Warning! ⚠️
Past performance is not necessarily indicative of future results. You are solely responsible for your trades. Trade at your own risk!


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