Week 11 Trade 2 EU Short
Updated
Reasons for entry:
- 88.6% fib rejection
- 1.1310 Minor psychological level
- PA is wicking + bearish engulfing
- Price is losing moment and beginning to stagnate
- 2hr Doji, possible evening star forming on the 2hr
Entry Timeframe:
- 1hr bearish engulfing (weak) + 2hr Doji
- 1.1305
Stop Loss:
@1.1319 (-14pips)
Take Profit:
Target 1 @1.1225 (+80pips) = Risk/Reward : 1:5.9
Target 2 @1.1200 (+105pips) = Risk/Reward : 1:7.8
Target 3 @1.1150 (+155pips) = Risk/Reward : 1:11.5
Notes :
- 2nd attempt at shorting this EU trade
- 88.6% fib rejection
- 1.1310 Minor psychological level
- PA is wicking + bearish engulfing
- Price is losing moment and beginning to stagnate
- 2hr Doji, possible evening star forming on the 2hr
Entry Timeframe:
- 1hr bearish engulfing (weak) + 2hr Doji
- 1.1305
Stop Loss:
@1.1319 (-14pips)
Take Profit:
Target 1 @1.1225 (+80pips) = Risk/Reward : 1:5.9
Target 2 @1.1200 (+105pips) = Risk/Reward : 1:7.8
Target 3 @1.1150 (+155pips) = Risk/Reward : 1:11.5
Notes :
- 2nd attempt at shorting this EU trade
Trade closed: stop reached
SL Hit -14pips
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