EURUSD Opportunity to short (Explanation in description+Chart)

FX:EURUSD   Euro / U.S. Dollar
Hi everyone posted a pattern on eurusd             few days ago which did not work and euro             rallied up also broke the resistance that i was looking at. But we have another pattern on this pair PLUS the price might bounce off the trendline . In my opinion the price should come down to the first target fairly easily and test the support which was the previous structure, depending on what happens there; the price could go back to being bullish OR go to the second target.

Lets see how this plays out :)

Good Luck
Ya, this one trapped many traders into selling, I was able to stay away from this by looking at how the price action reacted at the completion point. It had no trouble going right past it !!
Ahah yea had a order which did get stopped
moneymaking KevinSinghDhaliwal
Always make sure to look at how price action behaves at your specific level of interest. Have to see market struggle before pulling the trigger.
Completely agree, unfortunately had a pending order
moneymaking KevinSinghDhaliwal
No worries, if you were able to learn something from this trade, than I believe it was worth losing. The knowledge that you gained from this particular situation is way more valuable than the amount of money lost on this single trade :)
IvanLabrie moneymaking
Pending orders might backfire like this. I know I've had losses on unexpected market condition changes since I opened the order to when it got executed.
Lesson learned!
+1 Reply
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