Looking to short EURUSD on 4Hr trendline which is in line with the recent downtrend. This was established following formation of a rounded top at 1.19-120 region and break of neckline at 1.1860. This trade also aligns with the monthly bearish engulfing candle.
SL above 1.1850
TP1 - 1.1750 giving 1:1 R:R
TP2 - 1.1690
TP3 - 1.1550 (I think it should test this level before the next leg up)
SL above 1.1850
TP1 - 1.1750 giving 1:1 R:R
TP2 - 1.1690
TP3 - 1.1550 (I think it should test this level before the next leg up)
Trade closed: target reached:
Price hit TP1 giving 1:1 and then reversed to close the remaining position at BE.