I am looking to short 
EURUSD after it finds its support around 1.09880
After this, I expect price to fail under the Red 14 EMA shown asEURUSD is in a bearish trend
If price goes above the 14 EMA, it will then test the 50 EMA (shown in blue) which I would expect it to fail and remain bearish
Your entry point would be executed once you saw the evidence of price failing under the 14 EMA with wicks
I have drawn out what I am expecting this move to do for you
This trade is for educational purposes only, and not a recommendation to take this trade based on my charting
EURUSD after it finds its support around 1.09880After this, I expect price to fail under the Red 14 EMA shown as
EURUSD is in a bearish trendIf price goes above the 14 EMA, it will then test the 50 EMA (shown in blue) which I would expect it to fail and remain bearish
Your entry point would be executed once you saw the evidence of price failing under the 14 EMA with wicks
I have drawn out what I am expecting this move to do for you
This trade is for educational purposes only, and not a recommendation to take this trade based on my charting
Trade closed: target reached
Price pushed past the 14 EMA, & challenged the 50 EMA but failed to continue resulting in the bearish push. Hope you benefitted from this trade!
Note
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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.