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The808Trader

USD Rampage? EUR/USD - Ichimoku Short Trade Idea

Short
Euro / U.S. Dollar (FX:EURUSD)  
The808Trader  
FX:EURUSD   Euro / U.S. Dollar
Trend Analysis Chart Patterns Technical Indicators EURUSD eurusdshort Bearish Patterns Ichimoku Cloud ichimokukinkohyo ichimokuforex the808trader forexsignals
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trendanalysis chartpattern indicator eurusd eurusdshort bearish ichimokuclouds ichimokukinkohyo ichimokuforex the808trader forexsignals
We've been in a strong bearish trend with this pair. NFP caused a brief drawback right to tenken sen where we saw a textbook rejection. All current confirmations are bearish, so I'm looking to take advantage of the next movement. I've drawn out a few partial take profit levels along the way. This trade setup has a 1.5 Risk to Reward Ratio, so while it's not as high as I would like, I think its a strong enough setup that it's worth taking. This trade may get triggered pretty quickly after market open so I'll need to make sure to be on my toes or set a sell stop. If our bearish signs change to bullish or we fail to break below the previous low where our entry is, this setup may become invalidated.
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