According to the Fibonacci retracement tool, there will be a retracement up to between 0.8608 and 0.8623.
My Short trade idea is to catch the next leg down of this downtrend.
TRADE INPUTS:
ENTRY: 0.8608
STOP LOSS: 0.8630
TAKE PROFIT: 0.8560
RISK: 22 PIPS
REWARD: 48 PIPS
RISK:REWARD RATIO: 1:2.18
I have longer term analysis for this downtrend which I will also post. This trade is just to catch a shorter-term leg down.
My Short trade idea is to catch the next leg down of this downtrend.
TRADE INPUTS:
ENTRY: 0.8608
STOP LOSS: 0.8630
TAKE PROFIT: 0.8560
RISK: 22 PIPS
REWARD: 48 PIPS
RISK:REWARD RATIO: 1:2.18
I have longer term analysis for this downtrend which I will also post. This trade is just to catch a shorter-term leg down.
