Dear traders, I publish a long-term 500 Pip Swing Trading set-up on EUR/USD yesterday which is already running with 70 pips profit(long-term idea attached below). In this idea, I am going to discuss a short-term trade set-up on EUR/USD.
Price action analysis shows that bears are dominating the scheme of things in EUR/USD. So, we should trade in the direction of the bears.
In the hourly chart, EUR/USD has a high chance of dropping to 1.1165 or even 1.1120. This gives short-term traders the opportunity to make 80-120 pips by selling EUR/USD at current market price.
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Trade is running in 40 pips profit which is great for a short-term trade
thank you
but my idea is opposite with your analysis
random7ask
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@DrXoX, you are spot on. Due to the equal high that was created, the market is expected to complete the Inverted head and shoulders pattern and consolidate near the structure level 1.1250 before continuation higher next week
Hopefully we can get those sweet 80 pips
Iam in a short postion ready
KaltoireCapital
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@issolom, Yes, I already posted an update yesterday with entry, tp and sl to sell at 1.13 and we are already 70 pips in profit :) Let's go and get some more
rjoshicool
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Thank you. I plan to wait for a while and if it goes a bit up, then sell it.
but my idea is opposite with your analysis