EU is at a key level in the market. Had a nice bull run into the level but price rejected and had a strong bearish engulf showing there are sellers entering the market. Price attempted to break the level again and showed more evidence of sellers in the market and making a double top. This is a sign of a potential reversal back into a bearish trend. Just entered, targeting a 1-3RR.
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Trade hit the 1-1 target, now a risk free trade, Stop at BE :D
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Trades looking amazing! Should easily hit TP :D
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Decided to let trade run, No TP set anymore, gonna enter on lower highs and ride this wave down
I think the bull still is winning. We have to look from the previous very long bottom wick yesterday meaning the market still semi bullish. I think it will hit 1.19-1.20 max then a true reversal! Also considering U.S LOW gdp, stimulus that will make HUGE unemployment because it is better than working (getting $600 a week), RISING covid, upcoming election. The market is still UP for some days! Prepare to sell at 1.19!! Cheers!
DNiceChampion
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@samuelerics36, Oh okay haha, I see where you are coming from but this is just based on price action. I only trade news when its scheduled on the forex factory calendar. Trades going well so far, almost at 1-1RR :D. Looking to set stop to break even then.
Thanks for your point of view tho!! :)