Today I will give you a trading opportunity for EURUSD pair. After my profit target was hit, I saw another opportunity to go short. The opportunity came from trendline and bearish divergence signals.
Good afternoon everyone! Today I will give you a trading opportunity for EURUSD pair. After my profit target was hit, I saw another opportunity to go short. Let’s find out:
The picture above is the EURUSD pair on 4H chart. I drew the trendline and you can see that the price is touching the trendline. I use MACD and Stochastic to see any type of divergence, and I see there is hidden bearish divergence. This could be a signal to go short. Let’s check a lower time frame to find another signal.
On hourly chart, there is bearish divergence! This is a good signal to go short.
- Position: SELL around 1.1265
- SL & TP: SL around 1.130 and TP around 1.120
Make sure you use proper risk management. Happy trading!
RICO FY