This is a counter-trend potential setup on EURUSD. As can be seen, we have 5 weeks of extremely bullish in a row. Target 1 at -0.27 Fib is reached. Price now is 300 PIPS aways from daily 8 EMA. I personally would looking for a short setup if we have more confirmation on 4hr time frame (could be evening star). This is just a short-term setup with a risk/reward ratio around 2 ( 70 PIPS for 157 PIPS).Target is around 1.2100 where 8 EMA hanging now. Me personally, I will wait 45 mins until 4hr candle close for more confirmation! If you are not risk-taker for counter-trend trade, please do not take this one !
Kommentera:
So EURUSD has formed an evening star formation on H4. I already put on the trade. Let's see how it goes
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EUR is moving guys
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Formed a double top on 4H timeframe. Still have the same bias for this pair !