Home Waiting for EURUSD to retrace into Bearish ‘Hot Spot’
EUR/USD Daily

Waiting for EURUSD to retrace into Bearish ‘Hot Spot’

eurusd waiting to sell

This week we’ve seen a lot of power moves, a lot of strong levels broken and all we can do really is to wait for price to correct to our areas we target for signals.

The EURUSD looks like it has started it’s correction, waiting for price to come back and test the bearish hot spot on this chart.

If we get and sort of strong sell signal here, it would be considered a high probability trade as the resistance level, and the mean value will both be supporting a bearish position.

Look for bearish reversal candlestick patterns at the hot spot which  communicate to you the market is respecting this area as resistance, so you can build a short position off it.

Dale Woods

Dale Woods

The Forex Guy is an educational Forex trading blog run by Dale Woods who has been a passionate retail Forex trader for over 6 years. Dale trades the Forex market exclusively with price action based methodologies, believing price action trading to be one of the powerful approaches used the market today, and really is the core foundation of any good trading system. Dale also strongly believes in keeping charts clean and keeping things simple, logical and uncomplicated. By making trading decisions straight off the raw price action data, you can ‘bypass’ unnecessary variables like exotic indicators, trading robots or magical pivot levels. Dale enforces the idea that there is hardly any edge trading news and economic data releases and much prefers to make trading decisions straight from the candlestick themselves. ‘The Forex Guy’ is dedicated to providing knowledge to serious and passionate traders who want to learn the art of price action trading, positive geared money management and how to psychologically condition themselves to become a professional trader.