Reasons for entry:
- 88.6% fib rejection
- 1.1310 Minor psychological level
- PA is wicking + bearish engulfing
- Price is losing moment and beginning to stagnate
- 2hr Doji, possible evening star forming on the 2hr
Entry Timeframe:
- 1hr bearish engulfing (weak) + 2hr Doji
- 1.1305
Stop Loss:
@1.1319 (-14pips)
Take Profit:
Target 1 @1.1225 (+80pips) = Risk/Reward : 1:5.9
Target 2 @1.1200 (+105pips) = Risk/Reward : 1:7.8
Target 3 @1.1150 (+155pips) = Risk/Reward : 1:11.5
Notes :
- 2nd attempt at shorting this EU trade
- 88.6% fib rejection
- 1.1310 Minor psychological level
- PA is wicking + bearish engulfing
- Price is losing moment and beginning to stagnate
- 2hr Doji, possible evening star forming on the 2hr
Entry Timeframe:
- 1hr bearish engulfing (weak) + 2hr Doji
- 1.1305
Stop Loss:
@1.1319 (-14pips)
Take Profit:
Target 1 @1.1225 (+80pips) = Risk/Reward : 1:5.9
Target 2 @1.1200 (+105pips) = Risk/Reward : 1:7.8
Target 3 @1.1150 (+155pips) = Risk/Reward : 1:11.5
Notes :
- 2nd attempt at shorting this EU trade
Trade closed: stop reached
SL Hit -14pips
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.