Here is a quick setup for you guys!
EURUSD
Overall trend on larger timeframes is showing prices headed downwards so we applied our Fibonacci Retracement tool on the following levels, from the HIGH of Mar 26th @1.1805 to the LOW of March 31st @1.1704.
(If you didn't know Fibonacci Retracement tool is used to find and visualize better entry and exit points in a trending market wave.)
Here is my suggestion,
Low risk Scalp Setups with possibility of trades turning into longer term swing down.
Risk anywhere from 1-5% of your total capital by placing small SHORT orders on each of these below retracement levels:
23.6% = 1.1728 (SHORT) 0.10% Risk
38.2% = 1.1742 (SHORT) 0.15% Risk
50.0% = 1.1754 (SHORT) 0.20% Risk
61.8% = 1.1766 (The Ideal trade) (SHORT) 0.25% Risk
78.6% = 1.1783 (PERFECT Sniper entry) (SHORT) 0.30% RISK
Stop Loss: @1.1798 (1:5) Risk to Reward
Take Profit #1 @ 1.1705 (Close 75-90% of trade positions and allow the rest of the positions to run risk FREE.
Take Profit #2 @ 1.1690
Keep your TOTAL risk at a minimum of 1-5% per trade.
If these trades are triggered, I will be updating the analysis via comments so be on the look out. :)
If you like these quick informative post/tips please drop a LIKE & make sure to FOLLOW ME!!
EURUSDOverall trend on larger timeframes is showing prices headed downwards so we applied our Fibonacci Retracement tool on the following levels, from the HIGH of Mar 26th @1.1805 to the LOW of March 31st @1.1704.
(If you didn't know Fibonacci Retracement tool is used to find and visualize better entry and exit points in a trending market wave.)
Here is my suggestion,
Low risk Scalp Setups with possibility of trades turning into longer term swing down.
Risk anywhere from 1-5% of your total capital by placing small SHORT orders on each of these below retracement levels:
23.6% = 1.1728 (SHORT) 0.10% Risk
38.2% = 1.1742 (SHORT) 0.15% Risk
50.0% = 1.1754 (SHORT) 0.20% Risk
61.8% = 1.1766 (The Ideal trade) (SHORT) 0.25% Risk
78.6% = 1.1783 (PERFECT Sniper entry) (SHORT) 0.30% RISK
Stop Loss: @1.1798 (1:5) Risk to Reward
Take Profit #1 @ 1.1705 (Close 75-90% of trade positions and allow the rest of the positions to run risk FREE.
Take Profit #2 @ 1.1690
Keep your TOTAL risk at a minimum of 1-5% per trade.
If these trades are triggered, I will be updating the analysis via comments so be on the look out. :)
If you like these quick informative post/tips please drop a LIKE & make sure to FOLLOW ME!!
Note
My active trade from 1.1940 short is still being held. 2nd short trade open & running from 1.1760Trade active
Keep trailing stop loss, & make sure to follow my DXY analysis to make this chart more of an ease to read.Note
1st take profit zone approachingNote
Reentries from take profits and entry #2 close to triggering. 1-2% Risk should be taken.Note
Both short entires should have been triggered & be moving into profits. Move SL to secure a minimum of 1%-2% from entry #2Trade closed: stop reached
SL should have been hit for a minimum of 1% profit. Will be looking for new entries on this pair soon.
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.
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.