I am looking for bearish movement because of the following reasons:
1. On the daily chart, EURUSD closed with a gravestone doji which signals an area of supply and possible trend reversal.
2. On the 4Hr chart there is an Evening star candlestick patterns which also forms part of a head and shoulders chart pattern.
3. Risk:Reward is 1:3 which is a good ratio to take.
Remember to use proper risk management and past results don't necessarily predict future movements. Good luck with the trade!
1. On the daily chart, EURUSD closed with a gravestone doji which signals an area of supply and possible trend reversal.
2. On the 4Hr chart there is an Evening star candlestick patterns which also forms part of a head and shoulders chart pattern.
3. Risk:Reward is 1:3 which is a good ratio to take.
Remember to use proper risk management and past results don't necessarily predict future movements. Good luck with the trade!