Based on my analysis, the EURUSD has been forming a distribution pattern on the 15-minute timeframe, indicating a potential reversal. I believe that a short position at the sell limit level is appropriate, with a stop loss above the pattern's high and a take profit at the next support level. The risk-reward ratio for this trade is very attractive, providing a good opportunity for profit.
Entry: Sell limit at 1.07626
Stop loss: 1.0805
Take profit: 1.0481
Risk/Reward ratio: 7:1
Good luck!!
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Update on EURUSD Trade: Price Collapse as Predicted
Hello everyone,
I wanted to provide an update on my EURUSD trade idea that I shared earlier. Although the price didn't reach our sell limit at 1.07626 ("just 1 pip"), it collapsed as I had predicted, resulting in a profitable short position.
I hope you were able to benefit from the signal and capture some of the profits. As always, it's important to protect your gains and manage your risk, especially as we approach our final target of 1.0481.
Thank you for following along, and I look forward to sharing more trading ideas with you in the future.