FeroxWealth
Short

EURUSD Potential Shorting Opportunity

FX:EURUSD   Euro / U.S. Dollar
With the EURUSD             seeing some heavy selling pressure, and a textbook bearish engulfing candle on the daily, I will be looking to get in on this bearish momentum in attempt to scalp some quick pips. If momentum continues we could see a move to at least the 1.13 level, but potentially the 1.124 level. With the market continuously making higher lows on the daily and 4 hour chart, I don't want to be in a short position anywhere much lower than 1.124. Though many longer term traders have bearish outlooks on the EURUSD             I am just a scalper so I like to get in and get out and trade only with clear momentum. As of now the current market momentum is showing signs that the market might move lower so please see the rules below for how to get in on that bearish momentum.

Please note the following rules below for entry:
Price action remaining below the 1.15000 level
Price action breaking out to the downside, and preferably closing below the 1.1350 level.
Enter on bearish momentum breaking out to the downside below 1.13500
Profit whatever you can get, but the 1.13000 is the initial target and 1.12400 is my final target
Stops at around 1.14500

This trade will lose its potential if first rule becomes no longer applicable. For example if bearish momentum enters into the market and we see price action move substantially above the 1.15000 level

You will find that my style of trading often holds a greater risk than reward, however the potential of price action moving in the favor of my position where profit can be liquidated and banked before price action moves against me is very high when the rules are followed.

If you find yourself liking my style of trading please feel free to follow me as I will post potential trades like this rather frequently
Trade closed: target reached: Final target reached :)
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