Hey followers and other TradingView users!
EURUSD is almost on the free-falling mode and I would like to point out some important support levels where it could make reversals or at least scalping opportunities by using just a simple price action criteria.
First blue area:
1. The orange line is the 2018 low point. Usually, yearly highs and lows are capable to offer us nice scalping opportunities.
2. Just a bit lower is round number 1.12000. It should work also as a support level
3. Almost together on the same price level is the Fibonacci golden ratio - 62% (pulled from 2017 Januar low and from 2018 February high).
This first area is pretty solid because of the 2018 low point. It could be a nice opportunity to make scalp trades, can't see any reversal in this area because in this area we don't have any significant trendlines but overall it looks solid support area!
Second and lower blue area:
1. Here is the minor trendline (black line). Why minor, because if the trend is down (as it is right now) then the major trendline should be pulled as resistance above the candles but currently it has pulled below the candles as support and that's why it is not SO significant but still considerable.
2. The orange line price level is worked on 2017 as support
3. Next round number 1.11000
Summary: For scalp and day traders the first blue area is better because there are stronger price action criteria which could offer a bounce. The second blue area could offer us some price reversals but it should happen slowly because of the area strongness/weakness!
Please, do not forget to support my idea post by hitting the "LIKE button!
Thank You very much!
Have a nice day!
Cheers!
*This information is not a recommendation to buy or sell. It is to be used for educational purposes only!
EURUSD is almost on the free-falling mode and I would like to point out some important support levels where it could make reversals or at least scalping opportunities by using just a simple price action criteria.
First blue area:
1. The orange line is the 2018 low point. Usually, yearly highs and lows are capable to offer us nice scalping opportunities.
2. Just a bit lower is round number 1.12000. It should work also as a support level
3. Almost together on the same price level is the Fibonacci golden ratio - 62% (pulled from 2017 Januar low and from 2018 February high).
This first area is pretty solid because of the 2018 low point. It could be a nice opportunity to make scalp trades, can't see any reversal in this area because in this area we don't have any significant trendlines but overall it looks solid support area!
Second and lower blue area:
1. Here is the minor trendline (black line). Why minor, because if the trend is down (as it is right now) then the major trendline should be pulled as resistance above the candles but currently it has pulled below the candles as support and that's why it is not SO significant but still considerable.
2. The orange line price level is worked on 2017 as support
3. Next round number 1.11000
Summary: For scalp and day traders the first blue area is better because there are stronger price action criteria which could offer a bounce. The second blue area could offer us some price reversals but it should happen slowly because of the area strongness/weakness!
Please, do not forget to support my idea post by hitting the "LIKE button!
Thank You very much!
Have a nice day!
Cheers!
*This information is not a recommendation to buy or sell. It is to be used for educational purposes only!
