Hi Everyone, In this analysis we'll talk how to Identify the Bottom in EURUSD -0.61% as past few weeks were brutal for Euro -0.61% Dollar and every trader is looking for an opportunity to Buy it and the're keep failing to do so, Now while getting into these types of trades it's important that you should understand the basic of this analysis which is so much simpler and used in long term trades First Step, Identifying if the Price is being oversold or overbought In this case we're looking for Extremely Oversold levels and to do so we need a set period of RSI to HIT a negative 10 on Daily Chart which means it's good to go. Second Step is to, Identifying the Range SUPPORT as a Baseline Level, usually if price action Indicates the Overbought or Oversold situation in asset price then 50% of the recent Swing High to Swing low is considered as a reversal zone where long term Investors starts to BUY and Bulls take over the market! NOTE: In this case we're not aiming for an exact 50% level but more over to the area Finally, Backing up with a the finest Stop loss and Target Booking, as a good plan requires a strategic backup use the optimal Stop loss levels in this case the stop loss will be higher than 149PIPS as we're going in for a long term trade, More Updates will be posted here after!
have any doubts? than, let us know in the comment section below If this analysis was helpful than make sure to give it a Thumbs UP +_+ (In addition to previous analysis) Source - General public Information!
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H4 CHART, Place Pending order Now!
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GUYS Order has been Placed! GOODLUCK! :)
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Weekly Chart,Looks like it will reverse right after hitting the mid zone Major Support waiting!
Hello, I think you are wrong because the head of the H&S isn't finished like in this chart:
saafyhdd
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Not h&sh check my ideas
BloomFisher
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@jean.neymar00101, Let the Pattern complete in order to consider them, Investors usually wait to confirm weather the pattern will be valid after it provides a pullback, so It's not a valid Idea!
Sranangsway
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Nice ! What price level are you putting your pending order ?