EURUSD trading back into the range
Look like the EURUSD made a false break out the trading range it is in. The pin bar fakey signals a high probability of a turn around back into the range. I will be using a wide stop and target the inner top of the range.
Trend: range
Level: bottom support of the range
Signal: fakey
Trend: range
Level: bottom support of the range
Signal: fakey
Note
Moved stop up and placed short entry below the stop in case price breaks below the inside bar that formed.Note
Fakey formed. Moved up stop further and moved possible short entry.Note
My long position was closed at 1.17R and turned around short. The short position is still open.
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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.