Short

EURUSD to 1.08 and back down ?

Updated

Hi guys, it's been a very long time since I last published a chart. Sincere apologies for those who have been waiting for it.

The reason I am publishing this one is because all stars are getting aligned for a short of EURUSD around 1.0800

AB=CD potential completion
1.0800 even handle
Potential Bat Pattern completion
1.618 inversion of last move down
1.272 - 1.414 extension of last move up
Fib confluence
historical resistance with nice rejection at this level

SL should go above the previous high and 1.618 extension which are around 1.0830

As always, trading is a game of probabilities and finding an edge. With all the above in mind, I think we have an edge and the probability of a EURUSD reversal in the zone. But as you probably know by now, the market is always right.

Let me know what you think ... and if you appreciate the idea, thanks for hitting that like button.

Note

Here is a better view on that Support/Resistance zone around this level

Note

On the weekly chart it is even more clear

Trade active

Short @ 1.0798
SL : 1.0845
TP1 : 1.0675
TP2 : 1.0610

Trade closed: stop reached

Nico.Muselle

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