Fading Short Entry EURUSD Daily

FX:EURUSD   Euro / U.S. Dollar
EURUSD extended to the top of its trading range, the 127.20% extension reached and the higher Warning Line on this Schiff met. Seemingly this pair is done painting its second corrective bull leg. Bears will try to have a go at it, bulls will take some profits and that can result in this pair reaching the 1.1600 area. Selling short 1.1750 with a 70 pip stop above 1.1820 and looking for 1R-2R targets here seem reasonable.
Trade active: In @ 1.1760, a 70 pip stop @ 1.1830 and 1R-2R targets @ 1.1690 & 1.1620
Trade closed: stop reached: 1R target +70 pip, partial profit taking.
Trade closed: target reached: 2R target +140 pips
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