Second Chance Shorting Opportunity on EURUSD

19 Agu

If you’re looking for a second chance to short EURUSD, there’s a promising setup involving a Type 2 Bearish Shark Pattern with RSI Divergence. Let’s break it down.

Current Overview:
- Type 2 Bearish Shark Pattern:
- What It Means: The first target has already been achieved. This provides clarity on the first target but might reduce participation since the initial group of traders who profited may not re-engage.

- RSI Divergence:
- Signal: This divergence adds another layer of confirmation, especially for traders who rely on resistance and RSI divergence as their entry signals.

Strategy:
- Second Chance Entry: This setup offers a second opportunity to short EURUSD, with the RSI divergence potentially attracting a new wave of traders.

- Profit Factor: The strong profit factor in this trade is what drew me in, despite the potential for reduced participation from the initial group of sellers.

Final Thoughts:
While there might be fewer sellers this time around, the RSI divergence could bring in new participants, making this a solid second chance trade. Always keep an eye on your signals and manage your risk effectively.

What’s your take on this setup? Are you planning to jump in, or do you see other opportunities? Share your thoughts and strategies below!

Happy trading, everyone! 🚀