Here we have a VALID PATTERN on FX:EURUSD , that will be completing close to a previous or zone. The 4 hour and daily trends are also BEARISH, at least for now and we also have 1:1 risk to reward ratio for the 1st target. See the chart above for more details.
NOTE: Tomorrow we have lots of HIGH IMPACT news coming out of US, Average Hourly m/m, Non-Farm Employment Change, and Unemployment Rate. The most important one being the Non-Farm Payrolls (NFP).
NOTE #2: Due to high that is expected during these events, if are able to complete this pattern, than I will be holding onto this trade up to 8:00 AM (NEW YORK TIME)Tomorrow Morning. If the pattern is NOT completed by 8:00 AM tomorrow morning, than I will NOT be taking this trade. So it will be better to exit this trade with only 30 minutes remaining to the release of the HIGH IMPACT news. Always focus on preserving your capital and avoid taking unnecessary risks.
I will keep you guys up to date on this trade as we get closer to the NFP news release.
Please feel free to AGREE or DISAGREE with this idea by leaving a comment below. Hit that thumbs up button (top left corner of this chart) if you like the idea. Good Luck :)