EURUSD Short Trade *FLAG PATTERN & FIBONACCI*
Here is a simple bearish flag continuation trade on EURUSD
Heavy bearish move last week followed by some nice consolidation on the 1hr timeframe. Price is now rejecting the Fib 0.382 retracement level with multiple wick rejections.
SL = 30 pips to put it above Fib 0.618 level
Profit target is at the Fib 1.618 extension level to take advantage of the bearish momentum.
Heavy bearish move last week followed by some nice consolidation on the 1hr timeframe. Price is now rejecting the Fib 0.382 retracement level with multiple wick rejections.
SL = 30 pips to put it above Fib 0.618 level
Profit target is at the Fib 1.618 extension level to take advantage of the bearish momentum.
Trade active
Comment:
Lots of bearish momentum now. Flag was broken and retested perfectly
Comment:
I will take some profit at the Fib 1.217 extension to not be greedy
Trade closed: target reached
