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jannatul96
Jun 6, 2018 1:14 AM

Short Opportunities on EURUSD Short

Euro Fx/U.S. DollarFXCM

Description

Market is a long term downtrend.

On 1H chart:
Price is at a reversal zone.
4 touch at Resistance zone = Strong Resistance

1st Set up - R:R = 2.58 - 61 Pips Potential Profit

2nd Set up (Confirmation on Reversal) - R:R = 1.19 - 49 Pip Potential Profit

Stop Losses placed just above Resistance zone
Comments
tgc01
Stop triggered, this was a counter move trade. Very difficult to make a profit.

Look for building a short from 1.18 to 1.205 during this consolidation - with multiple entries towards 1.15 first and then 1.05 into 2019.
jannatul96
@tgc01, My Stop got hit as well. I should have waited for confirmation on reversal and and stuck to the 2nd set-up; lesson learnt. I just published a new idea on EURUSD, let me know what you think.
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