EURUSD - Wyckoff Upthrust - Support/Resistance

FX:EURUSD   Euro / U.S. Dollar
Longer term direction:
4H chart is in a downtrend, with a visible Resistance level where we try to enter. Also, the daily chart has 10EMA below 20EMA.

Potential Wyckoff Upthrust with a good Outside bar for entry at the 2H chart that can give an excellent risk-to-reward trade.

Target1 is 1 to 1 move or the nearest low and Target 2 is the 161% Fibonacci extension.

If you close half at 1 to 1 and then leave a runner for the 161% Extension - you'd have 3.5 RR.

1 to 1 target was reached, but as it's noisy if the stop loss was moved to breakeven you were stopped out. Therefore making 0.5 R in this trade.

For those of you keeping the stop at entry - you are still in the game for a runner.


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