AbdulRzk

EURUSD Bearish.

Short
FX:EURUSD   Euro / U.S. Dollar

EURUSD Bearish - EURUSD is overall in a downtrend - if you view the chart from the monthly view, you will see the monthly trendlines .
The EURUSD market completed the form of a classic Head and Shoulder pattern last week. The market is now retracing back to its previous price, however the price has nearly retraced back to a key support line (Red Line). This key support line has been met numerous times as seen from the chart.
If you look at the chart from a daily view, you will see the weekly trendlines (Purple lines) - it is clear EURUSD is trending downwards. Once the price hits the key support line, that area is also a supply zone . When a price reaches a supply zone within a downtrend, it then follows to drop down to the demand zone .

This setup has a target of 100 pips - if entered at supply zone . any thoughts?
Order cancelled: OLD WORK - Incorrect