Euro / U.S. DollarShort
EURUSD Daily: Another Great Short Set-up at 1.152 Waiting for Us
After EURUSD had touched under the trend line on Feb. 11th which also intersected 161.8% of previous leg from December and had completed the bearish bat, price reached the support around 1.084 at 61.8% of the range from December low to the previous high around 1.137.
This time it can reach another level with similar implications: touching the same trend line intersecting with 127.2% of the previous leg at around 1.152. +DI, -DI and ADX at key levels again for this uptrend.
For this long term possible trade, with entry at about 1.152, I chose SL above the trend line, 127.2% of the December low and February high swing and 141.4% of the previous swing from February high to previous low of the beginning of March at about 1.163-1.164. Targets here are preliminary, I normally watch the price action when closing the trade, important for me is to have a well defined risk
This time it can reach another level with similar implications: touching the same trend line intersecting with 127.2% of the previous leg at around 1.152. +DI, -DI and ADX at key levels again for this uptrend.
For this long term possible trade, with entry at about 1.152, I chose SL above the trend line, 127.2% of the December low and February high swing and 141.4% of the previous swing from February high to previous low of the beginning of March at about 1.163-1.164. Targets here are preliminary, I normally watch the price action when closing the trade, important for me is to have a well defined risk
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