The Eurusd daily closed has communicate with me that bearish move may resume soon. The engulfing on the Daily chart time frame indicates a strong imbalance. It seems the price wants to close the unfilled orderflow towards the daily chart demand at 1.3211.
Currently that is a clear downtrend. So selling any rallies or at supply level would be a low risk and high probability. Its a matter on how you can quantify it.
Here is a short term day trade on the 5 minute chart.
My plan is to short the pair inside that supply zone at 1.3480 – 1.3493 within those area. My entry will on the 1 minute chart.
What important here is to monitor the arrival so as to avoid the Profit margin being reduced.
If it does, we have to ignore it. And move on other good seyup. Trading is all about focusing the process, not the outcome.
happy trading everyone.