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EightfoldPath
Oct 21, 2018 9:12 PM

POSSIBLE EURUSD LONG setting up Long

Euro Fx/U.S. DollarFXCM

Description

Previous month candle closed positive. Price has tried to close below the 1.15000 level the previous 3 weeks in a row and has been unsuccessful every time. The day candle by the close of Friday has engulfed the previous day. Looking for a pullback to the 1.14725 area before entering long.

3.17RR

ENTRY 1.14725
STOP 1.14260
TARGET 1.16200

Trade active

Trade closed: stop reached

Comments
Captain_Walker
The monthly time frame is also a in a channel heading south. Rather difficult to estimate probabilities on 4H based on monthly?


Daily time frame reveals a head & shoulders with weak right shoulder, and a momentum switch for the south.


I'm not saying it can't go north on the 4H. I don't know the future.
EightfoldPath
@Captain_Walker, Nice call! The trade had a nice risk to reward but evidently was not able to hold the 1.15000 level. Thanks for commenting. Keep up the great work
Captain_Walker
@Surefx, Nice! I cashed in on that one!! LOL
EightfoldPath
@Captain_Walker, lol fair play
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