So this one has dipped out of its reversal territory and we will likely see a move down to the area marked on the chart. The area marked has important fib levels as well as a huge price level.
I'm short until then!
So a quick look at the trading ideas since the start of the year on TradingView for EURUSD on the Daily has the majority of people looking short. However, since the 1st, these shorts have been crushed. This proves, once again, the 90% rule of trading.
However, the EURUSD now looks very overextended reaching into the yearly regression. I'm hesitant to get into...
So this pair just completed it's full flag motion - and I'm going long until 119. However, I will also be using a 75 pip trailing stop, because I do see a possibility of the pair dropping to 107.