This is a counter-trend potential setup on EURUSD. As can be seen, we have 5 weeks of extremely bullish in a row. Target 1 at -0.27 Fib is reached. Price now is 300 PIPS aways from daily 8 EMA. I personally would looking for a short setup if we have more confirmation on 4hr time frame (could be evening star). This is just a short-term setup with a risk/reward ratio around 2 ( 70 PIPS for 157 PIPS).Target is around 1.2100 where 8 EMA hanging now. Me personally, I will wait 45 mins until 4hr candle close for more confirmation! If you are not risk-taker for counter-trend trade, please do not take this one !
Note
So EURUSD has formed an evening star formation on H4. I already put on the trade. Let's see how it goesNote
EUR is moving guysNote
Formed a double top on 4H timeframe. Still have the same bias for this pair !
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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.