Elite Swing Trader Signals EURUSD – 17th May 2019
EURUSD had a strong bearish day yesterday. The H4 chart shows that the price after having a little correction makes a good bearish move. It seems that the price is having a correction at the moment. A good level of resistance is nearby as well. If the level is held and it ends up producing an H4 bearish engulfing candle, then an H1 breakout at yesterday’s lowest low would offer a short entry to EURUSD sellers. Let us have a look at the H4 EURUSD chart.
This is another trade idea generated by the Elite Swing Trader.
The level of 1.11885 has the potential to be the level of resistance here. The price at the moment has been heading towards the level. If the level is held and it produces an H4 bearish engulfing candle, then an H1 breakout at the level of 1.11660 would drive the price to go towards the level of 1.11300. Let us have a look at the summary of the trade…
- Sell Stop Order: 1.11542
- Stop Loss: 1.11841
- Take Profit: 1.11300
The H4 chart shows that the price had a bounce from a level which stands a bit ahead than our marked level. The price might as well react from the level too. The reason why I assumed the marked level to act as the level of resistance is the price reacted a number of times at that level. Moreover, there is some space in between. A correction/consolidation needs some space within the zone. This allows a trend to have strength as well as enough space for the traders to set their stop losses.
The Elite Swing Trader Trading Dashboard
With the Indicator, you can now have multiple charts open and wait for the Elite Swing Trader will highlight potential trades to your attention. Of course, without saying, you do not trade every signals. Instead, this is a massive time saver. You decide on the trades to take.
This is a time tested Ever Green Swing trading system. Learn more here…
Claim Your $60 No Deposit Bonus Here
All you need is to have your live account verified!
Of course, you need to open a live account...
2 Brokers that we like A LOT!
USD30 from each Forex Broker Below.
Both Forex Brokers have excellent rating!
We use both of these brokers and proudly promote them!NOTE: Not all countries qualify for these bonuses. Terms and Condition Applies.
Other Analysis Today