Potential short @ 1.0990

FX:EURUSD   Euro / U.S. Dollar
1201 24 27
I see potential for a short if price breaks the 1.0990 There are a few requirements that need to be met before I would consider this trade.

  • The current candle needs to close as indecision, it looks like indecision now, but it has yet to close.
  • The new daily candle should not push higher than 1.1055 .

Hi, can you help me how do you create these blue areas on the support-resistance lines?
@chrispooh, parallel channel tool
+1 Reply
chrispooh forex4noobs
@forex4noobs, thank you very much :) Your videos are really great. I like the simplicity of price action trading.
@chrispooh, no problem, glad you find my videos useful!
+1 Reply
Trade closed for profit at the 1:2 target
+3 Reply
Target was hit today at 1pm for a 148pip profit. :)
Shortly after though due to the ECB news release, price quickly reversed and would have hit my stop had I not stuck to my 2:1 target ratio.
I am in this trade also, good luck for all.
Thanks Nick, yeah I got in :) I set a Sell Stop and went to bed! It triggered around 1am'ish.

Entry: 1.0988
Stop: 1.1063
Exit: 1.0839

Good luck.
Great work
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