HOW TO DETECT TARGET ZONES?
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EURUSD (Forex):
In the chart you can see my trading setup. The middle dotted trend line and the red zone act as resistance. Currently the price is rejected.
First of all, this offers us a short opportunity.
How can you find target zones? ❗️
To find target zones, I usually use distinctive highs and lows. In this case the green support zone. The first profits should then be realized in this zone.
I also use the fibonacci tool to display possible zones in which I can sell. In particular, I pay attention to the 0.5 retracement in combination with the 0.618 retracement. In the chart you can clearly see that these zones roughly correspond to my own drawn zones.
In the chart you can see my trading setup. The middle dotted trend line and the red zone act as resistance. Currently the price is rejected.
First of all, this offers us a short opportunity.
How can you find target zones? ❗️
To find target zones, I usually use distinctive highs and lows. In this case the green support zone. The first profits should then be realized in this zone.
I also use the fibonacci tool to display possible zones in which I can sell. In particular, I pay attention to the 0.5 retracement in combination with the 0.618 retracement. In the chart you can clearly see that these zones roughly correspond to my own drawn zones.
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