Why are we entering?
- Price retraced back to the 618 fibonacci and double top. Price created a bigger expanding flat ABC correction
- Expecting EUR weakness and USD strength = EURUSD SHORT
What is our confirmation?
- lower timeframe bear flags
- rejection of structure
Entry
- SAFE Entry: Break of WFB (might be too far. Could be better taking a risk entry)
- RISK Entry: lower timeframe bearflag break
- RISK Entry 2: Rejection of structure
Once entered, where will our Stoploss be?
- above 618 fibonacci
Where do we take profits?
First TP: 1.13 (180pips)
Second TP: 1.112 (350pips)
Swing TP: 1.096 (520pips)
- Price retraced back to the 618 fibonacci and double top. Price created a bigger expanding flat ABC correction
- Expecting EUR weakness and USD strength = EURUSD SHORT
What is our confirmation?
- lower timeframe bear flags
- rejection of structure
Entry
- SAFE Entry: Break of WFB (might be too far. Could be better taking a risk entry)
- RISK Entry: lower timeframe bearflag break
- RISK Entry 2: Rejection of structure
Once entered, where will our Stoploss be?
- above 618 fibonacci
Where do we take profits?
First TP: 1.13 (180pips)
Second TP: 1.112 (350pips)
Swing TP: 1.096 (520pips)
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