journeyofarookie2.0
Short

Candlestick pattern setup

FX:EURUSD   Euro / U.S. Dollar
83 1 2
After what seems a false breakout on thursday, candlestick patterns traders have a good opportunity with a nice bearish engulfing pattern formed on friday ( engulfing the 3 previous candles)
Aiming for bottom of channel gives a decent 1:1 risk to reward. Second target could be at lowest close around 1,0560 for almost a 2:1 risk reward ratio.
Trade active: Sold that pair at market opening yesterday
This is how I see it on the 4hr time frame:
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