BoonHooi
Short

EURUSD - Could have a little more upside before it drops

FX:EURUSD   Euro / U.S. Dollar
This post is inspired by the discussion with a group of my students. We were looking at where EURUSD could possibly turn

Spotted the following 2 patterns on the pair
- a Bearish Crab on the H4 chart. Completion @ ~1.2125
- a Bearish Shark on the D1 chart. Completion @ ~1.2085

Let's monitor this closely. Tonight FOMC. I would love to see another higher high to complete the above mentioned patterns and the indicators shows us a bearish divergence !!
Comment: I guess it is beginning for form, I see a potential bearish Divergence happening.
Naturally it does this as the market is waiting for NFP tonight.

(Apologies..... dunno where I saw FOMC yesterday, it is NFP tonight)

Trade active: Currently running at +115pips profits. Tightened SL to 1.1988 protecting a minimum of +68pips profits. Making this a risk free trade.
Trade closed manually: Closed at 1.1932 with a +123pips profits.
Will monitor this closely, look for retracement to re-enter short again

Comments

hi
what is the TP of the short
Reply
BoonHooi BLANCOBERG
@BLANCOBERG, My first target would be 1.1888, then maybe 1.1750
Reply
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