Short Term Trend Trading

Trend trading are quite popular among the trading community. It is in every book that mention the Trend is your friend. Lets do some Myth Buster. Currently We are in a Down trend on the EURUSD and hence Bearish bias, WE look for ONLY supply or fresh supply.

I will start Finding supplies and for sure will find one in a down trend. May it be in a smaller time frame or larger. Here is a 30 minute chart. I am putting a sell limit order.

The approach in Price is stronger, looking at the lower time frame a potential least path resistant.

m30_SHORT_TERM_SUPPLY_Eurusd

At the time of writing , the price is very close by and is about to get filled in.

What do you think will happen and how far will it go ?

 

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