EURUSD: Selling Opportunities from Resistance Zone
Why did I write about selling opportunities in EURUSD market? For me, the market looked bearish, and it was interesting for shorting. In spite of the breakout above the resistance, I'm standing on the bearish side.
You can see how the price acted at 1.14000 and 1.15000 resistance levels in the past. After reversals, we had pullbacks. We had to use the reversals in the daily chart as the main bearish signals and we could search for the exact entry points for short trades using the hourly time frames.
Some of you wrote to me that we had to buy at 1.14000 level. Really? Buying below the resistance is not a good idea. Is it a mistake. We could buy based on reversal signals from SMA with period 20.
As for now, we have a reversal candlestick pattern. The price moved above 1.14000 resistance but still, we have a chance to get a false breakout. It will be another bearish signal.
Of course, the price can move up because of fundamental news. The next resistance will become the target for buyers, and probably we will get another selling opportunity from 1.15000. But it will be another story.
P.S. as I don't use like-bots and other solutions that show great "interest" to my posts, I will be grateful if you support my work by your LIKEs and comment. Of course, if you can do it. The feedback from REAL people is priceless!
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
You can see how the price acted at 1.14000 and 1.15000 resistance levels in the past. After reversals, we had pullbacks. We had to use the reversals in the daily chart as the main bearish signals and we could search for the exact entry points for short trades using the hourly time frames.
Some of you wrote to me that we had to buy at 1.14000 level. Really? Buying below the resistance is not a good idea. Is it a mistake. We could buy based on reversal signals from SMA with period 20.
As for now, we have a reversal candlestick pattern. The price moved above 1.14000 resistance but still, we have a chance to get a false breakout. It will be another bearish signal.
Of course, the price can move up because of fundamental news. The next resistance will become the target for buyers, and probably we will get another selling opportunity from 1.15000. But it will be another story.
P.S. as I don't use like-bots and other solutions that show great "interest" to my posts, I will be grateful if you support my work by your LIKEs and comment. Of course, if you can do it. The feedback from REAL people is priceless!
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
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