7pasos

Bend after 3 resistance system

Short
FX:EURUSD   Euro / U.S. Dollar
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2
The EURUSD think is in a impulsive downward movement, and just made a pull back to the 38.2% level, where appears a system of 3 resistances that finally seems make bend the price down again.
So the idea is to retake the selling once a bull swing pattern fails, meaning once we have a lower low.
Is desirable to wait a good close price below the 1.3040.
Stop loss could be at 1.316 but i really think if touches the 1.3134 the sell will be doomed.

The minimum target of course is the 50% of the upside movement, at 1.2940 if you like to trade this safe could place your stop at break even reaching this point, but you will have more chance to get stoped out even when latter the price keeps falling.

Comments

As I told could still in the trade to see if the last resistance holds but I prefer to wait for a new reversal if it happend
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it's nice plan. good~
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