Here we have a setup of the Euro against the US Dollar . The pair is trending in a downtrend so we will be looking for shorts. Confirmation of the downtrend is price currently trending below the 200MA. You can see rejection off of the downtrend-line. At that rejection point you can also see a pattern formation followed by a pullback and rejection off of the . My targets if this trade goes right will be first at 1, then I will take profit and let the rest run to 2 if the up-trend line is broken.