EURUSD: Short Trades from 1.20000 Resistance
Actualizado
The price is going to test the 1.20000 round number level. It is a solid resistance that can stop and reverse the upward movement. The price action at this resistance will be able to give us interesting bearish setups.
If the price reverses from the resistance, we will be able to open short trades with stop orders above the resistance and the local swing high.
If we get a false breakout, it will be possible to open short trades as well. But the stop orders must be placed above a new swing high.
The profit target for both short trades can be placed at SMA50 and 1.19400 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, we will be able to open short trades with stop orders above the resistance and the local swing high.
If we get a false breakout, it will be possible to open short trades as well. But the stop orders must be placed above a new swing high.
The profit target for both short trades can be placed at SMA50 and 1.19400 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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