Eur/Usd Hourly Scalp

Just noticed this Eur/Usd trade as I was checking my charts this morning, missed it unfortunately but it would have given a nice 1-3 ROI.  Notice how the four hour turquoise resistance above was rejected and how price is heading towards a weekly pink trend line.

eurusd_scalp_001

I was looking at the last bounce off the hourly TL this morning and just thought I would post this chart to show how waiting for S/R to form at the entry can keep you out of bad trades.  As you can see price tried to break the trend line but was rejected  and  this was confirmed by no break of support and price reversed from this point.  Also the weekly T/L is much too near to be looking at shorts but just thought this would be a helpful addition to the previous charts for purposes of the entry.

eurusd_2

 

 

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