EURUSD Short at supply area
On the EURUSD we are currently bouncing between the two red 4hr supply and demand areas. As we are currently in a downtrend and in neither an oversold or overbought area, we have a short bias.
On the 4hr we are moving into a supply area (yellow) which we didn't trade last week due to the entry being triggered pretty late on friday. This luckily gave us a better entry point and so we are entering now instead.
Hopefully we can get a small bounce for a 1:1 Risk:Reward, as indicated on the chart.
Remember to trade with the probabilities. No single trade determines our performance, we will all have a loser once in a while.
Take care,
TheSupportResistanceTrader
On the 4hr we are moving into a supply area (yellow) which we didn't trade last week due to the entry being triggered pretty late on friday. This luckily gave us a better entry point and so we are entering now instead.
Hopefully we can get a small bounce for a 1:1 Risk:Reward, as indicated on the chart.
Remember to trade with the probabilities. No single trade determines our performance, we will all have a loser once in a while.
Take care,
TheSupportResistanceTrader
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