Should the price drop to 1.0667 and subsequently rebound, it's advisable to verify this move on the hourly chart. In this context, validation entails monitoring the Relative Strength Index (RSI) for two key conditions: it should enter the overbought zone, and a distinct buy signal should emerge (Buy OB). Once these criteria are met, consider entering a long position, while exercising caution by setting a tight stop-loss at 1.0635.
If the price breaches the level of 1.0635, it is advisable to liquidate all existing long positions, as this indicates a potential break in structure.
If the price breaches the level of 1.0635, it is advisable to liquidate all existing long positions, as this indicates a potential break in structure.
Trade active:
Initiating a LONG position with a stop loss set at 1.0630, contrarian approach.
Trade closed: target reached:
EURUSD reversed from the key support area.