Project_PriceAction
Short

EUR/USD 500 Pips Sell Trade with Low risk

FX:EURUSD   Euro / U.S. Dollar
EUR/USD is now close to the Resistance Level once again. This is a good area for the sellers to step in slowly and add small sell positions.
There is a good chance of a drop to 1.08 in the next 4-5 weeks as US Dollar gains strength.

The potential for profit is more than 500 pips whereas the loss can be limited to less than 120 Pips.

So, the trading plan is to sell between 1.1320-1.1450 with SL above the resistance area and final target at 1.08 support level .

Comment: Sell trade in 60 pips profit
Comment: Booked 100 pips in a day from this set-up. I expect to see more downtrend

Comments

Analysis logical, but all the forex community is waiting for this. I don't think that the banks will pay us just shorting from the area. I suggest to buy now !!. Sentiment show's over 70 percent sellers.
+12 Reply
@jtayeh, I understand you are talking about sentiment here
Reply
@jtayeh, But, I have been buying EURUSD since it was at 1.08. So, for me buying now will be chasing this trade. I am looking to sell as I expect the bulls to fail close to the resistance area again.
+1 Reply
@jtayeh, Yea the banks are massively long on this ! Latest COT data showed Net positive 117k Which means theres a lot more room to run I am fully expecting 1.15 to be hit. Before any big pullback like that .
Reply
Project_PriceAction ForexLaboratory
@ForexLaboratory, COT data is not actionable. Some people simply hype it up.
Reply
Project_PriceAction ForexLaboratory
@ForexLaboratory, What about your banks now? Are they buying or selling it? Some people try to sell the COT data as if it's some kind of holy grail.
Reply
ForexLaboratory Project_PriceAction
@Project_PriceAction, I still have it pulling back more yet … Still see 1.15 getting hit but I do see it dropping little further down to like 1.10 area to then bounce back up .
Reply


This is our point of view! Thank you !
+4 Reply
Project_PriceAction ForexTrendline
@ForexTrendline, Great idea but I prefer to sell
+3 Reply
koti- ForexTrendline
@ForexTrendline, 🤣🤣🤣
+3 Reply
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