EURUSD Short Term Sell Idea
D1 - We had a bearish divergence, then the price moved lower and broke below the last low thus forming a bearish convergence.
In addition to this the price has also broken below the uptrend line, we may consider these as evidences of bearish pressure.
H4 - Bearish trend structure (3 lower highs, lower lows pattern), we may now look for pullbacks towards the sell zone marked in the chart. We may then look for bearish setups with bearish evidences around this sell zone (candle stick patterns, false break, trend line breakout, etc...) in order to start looking for the sells.
Invalidation - If the price moves higher and breaks above the 61.8% fibonacci retracement level in one straight move then this sell setup will be invalidated.
In addition to this the price has also broken below the uptrend line, we may consider these as evidences of bearish pressure.
H4 - Bearish trend structure (3 lower highs, lower lows pattern), we may now look for pullbacks towards the sell zone marked in the chart. We may then look for bearish setups with bearish evidences around this sell zone (candle stick patterns, false break, trend line breakout, etc...) in order to start looking for the sells.
Invalidation - If the price moves higher and breaks above the 61.8% fibonacci retracement level in one straight move then this sell setup will be invalidated.
Komen:
This sell setup moved exactly as per our plan and has provided us wonderful returns.