EURUSD - Over-Sold Zone!

9 ต.ค. 2022

Hello TradingView Family / Fellow Traders. This is Richard, as known as theSignalyst.

on DAILY: Left Chart
EURUSD is approaching a support zone so we will be looking for buy setups.

Knowing that EURUSD can still trade lower inside the zone before going up.

That's why we don't sell blindly, we always zoom in to lower timeframes and wait for the bulls to take over.

on M30: Right Chart
EURUSD is forming a channel in red but it is not ready to go yet. So we will be waiting for a third swing high to form around the upper trendline to consider it valid.

Trigger => waiting for that third swing high to form that buy after a momentum candle close above the gray zone.

Meanwhile, until the buy is activated, EURUSD can still trade lower.

Which scenario do you think is more probable and why?

Always follow your trading plan regarding entry, risk management, and trade management.

Good luck!

All Strategies Are Good; If Managed Properly!
~Rich