Hey Rich Friends,
I forgot to post the initial idea for this EU Bearish move but I was happy to see the market went in my favor!
I analyzed the market around 10:00 AM EST on July 24, 2003, to get my confirmations and set a sell limit at 1.10850. When I am looking for a sale, here are the things I look for with my strategy:
1. Candles are forming below one or both EMAs (50 and 200)
2. The MOM is facing down and/or below 0
3. STOCH is facing down and/or below 50 and/or the orange line is above the blue line.
All of these conditions were met so I decided to take the trade.
I hope this was helpful.
I forgot to post the initial idea for this EU Bearish move but I was happy to see the market went in my favor!
I analyzed the market around 10:00 AM EST on July 24, 2003, to get my confirmations and set a sell limit at 1.10850. When I am looking for a sale, here are the things I look for with my strategy:
1. Candles are forming below one or both EMAs (50 and 200)
2. The MOM is facing down and/or below 0
3. STOCH is facing down and/or below 50 and/or the orange line is above the blue line.
All of these conditions were met so I decided to take the trade.
I hope this was helpful.
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