EURUSD-Weekly Market Analysis-Apr22,Wk4
EURUSD is at an interesting setup that can get both Trend Traders and Counter-Trend Traders involved.
If you are a trend trader, waiting for Point 1 for a 3-bar reversal(a break and close below) the current candle low would signal a shorting opportunity. Target1 would be a recent market close, which is at Point 2.
Where else Counter-Trend Traders could wait for Point 2 for a 3-bar reversal and long it to Point 1 as the first target.
If you are a trend trader, waiting for Point 1 for a 3-bar reversal(a break and close below) the current candle low would signal a shorting opportunity. Target1 would be a recent market close, which is at Point 2.
Where else Counter-Trend Traders could wait for Point 2 for a 3-bar reversal and long it to Point 1 as the first target.
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