EURUSD: Short Trade from Resistance
The market gave us several amazing trades which could give us a solid profit. Now, we are not far from a new trade opportunity. The price is not far from the resistance zone formed by the daily uptrend line and 1.18295 resistance level. RSI is going to reach the overbought zone. We will be able to get a solid bearish signal from RSI.
If the price reverses from the resistance zone, it will be a good trade opportunity for shorting. Stop orders must be placed above the local swing high and the resistance zone. Profit targets should be placed at SMA200 and 1.16940 support. Risk per trade must be no more than 1-2% of the capital.
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.
If the price reverses from the resistance zone, it will be a good trade opportunity for shorting. Stop orders must be placed above the local swing high and the resistance zone. Profit targets should be placed at SMA200 and 1.16940 support. Risk per trade must be no more than 1-2% of the capital.
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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