brettschoenfelder
Short

EURUSD Sell - Potential Top of Range

OANDA:EURUSD   Euro / U.S. Dollar
37 views
4
W
The weekly chart shows price action has been in a range since late 2016 and approaching the top of the range.

D
Idea is that the upward momentum from last week will slow into the coming week reaching this daily supply zone area and start a new downward leg of the range.

240
Price currently reacting off a 240 zone. Must wait for price to resume upward move into the higher 240 supply zone . Sell order will be from here

TP
7.5:1 Looking for a big profit zone, since the idea is that this trade is taking a shot at the top of the range. The plan is to move the stop to guarantee 3:1 profit, and trail from there.

Will enter as 3:1 and move TP to 7.5:1 if I able with work schedule

Other Notes:
For this idea to be valid the 100 level on the INDEX:DXY would need to hold as support
Trade active

Comments

Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Refer a friend My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out