EURUSD 4-hourly chart bull is exhausting, bear is taking over. A potential SHORT can be executed with reasonable risk reward ratio.
Reason :
- 4 hourly chart, critical res at 1.1960.
- Price rejection at fibs level,
- Possible upside target to -27.2% fibs level @ 1.20 area.
- Simple textbook price action in play.
- Reasonable risk reward to long.
- Potential to reach next resistance points :
Entry point Long : CMP ; TP : 1.1840 (+100pips) ; SL above previous high @ 1.1885
Risk Reward 1 : 2.78
Always remember to trade with stop-loss, market is crazy & cunning*
Reason :
- 4 hourly chart, critical res at 1.1960.
- Price rejection at fibs level,
- Possible upside target to -27.2% fibs level @ 1.20 area.
- Simple textbook price action in play.
- Reasonable risk reward to long.
- Potential to reach next resistance points :
Entry point Long : CMP ; TP : 1.1840 (+100pips) ; SL above previous high @ 1.1885
Risk Reward 1 : 2.78
Always remember to trade with stop-loss, market is crazy & cunning*
Trade closed: stop reached:
SL hit despite on Draghi speech~ euro tanking. Looking for another good selling area.