FeroxWealth
Short

EURUSD Potential Scalp to the Down Side

FX:EURUSD   Euro / U.S. Dollar
As EURUSD             has finally been able build up enough momentum to break out of the support zone , marked by the green horizontal rectangle , that it has been sitting above for quite some time now. With this break out there could be potential to scalp the market to the downside and ride some of this bearish momentum out.

Please note the following rules below for entry to the downside:
Price action remaining below the support zone marked by the green horizontal rectangle
Watch for a potential run up to retest the support zone or the bottom trend line of the triangle that it broke out of.
Enter on bearish momentum moving back down below the 1.13200 level
Profit whatever you can get, but the 1.12950 and 1.12400 levels are the two targets for this scalp to the downside
Stops at around 1.14250

This trade will lose its potential if the first rule becomes no longer applicable. For example if bullish momentum pushes price action substantially above the 1.13500 level.

You will find that my style of trading often holds a greater risk than reward, however the potential of price action moving in the favor of my position where profit can be liquidated and banked before price action moves against me is very high when the rules are followed.

If you find yourself liking my style of trading please feel free to follow me as I will post potential trades like this rather frequently.
Trade closed: target reached: final target reached :)
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