EURUSD Bearish Flag + 3 Possible Setup
Updated
EURUSD is currently on a bearish flag and has 3 possible setups; 2 breaking the flag to the upside and 1breaking to the downside.
Setup #1 (Breaking to the upside):
- When the market price breaks to the upside and has broken the 1.15000 level, you can enter the following order:
- But Stop @ 1.15100
- Stop Loss @ 1.48300
- Take Profit @ 1.16000
- Risk/Reward Ratio: 3.33
Setup #2 (Breaking to the upside):
- Make sure that the price breaks to the upside, and touches the 1.1500 level.
- Ensure that the 1.1500 level shows a strong resistance.
- Once the market price has gone down, you can enter the following sell trade:
- Entry Price @ 1.14775
- Stop Loss @ 1.15050
- Take Profit @ 1.13600
- Risk/Reward Ration: 3.08
Setup #3 (Breaking to the downside):
- When the market price breaks down to the downside, you can enter the following order:
- Entry Price @ 1.14475
- Stop Loss @ 1.14800
- Take Profit @ 1.13600
- Risk/Reward: 2.69000
Cheers!
Happy Trading!
Setup #1 (Breaking to the upside):
- When the market price breaks to the upside and has broken the 1.15000 level, you can enter the following order:
- But Stop @ 1.15100
- Stop Loss @ 1.48300
- Take Profit @ 1.16000
- Risk/Reward Ratio: 3.33
Setup #2 (Breaking to the upside):
- Make sure that the price breaks to the upside, and touches the 1.1500 level.
- Ensure that the 1.1500 level shows a strong resistance.
- Once the market price has gone down, you can enter the following sell trade:
- Entry Price @ 1.14775
- Stop Loss @ 1.15050
- Take Profit @ 1.13600
- Risk/Reward Ration: 3.08
Setup #3 (Breaking to the downside):
- When the market price breaks down to the downside, you can enter the following order:
- Entry Price @ 1.14475
- Stop Loss @ 1.14800
- Take Profit @ 1.13600
- Risk/Reward: 2.69000
Cheers!
Happy Trading!
Note
Sell order entered, however, Brexit might affect the price before reaching the take profit level, hence stop loss is very important in this trade.Trade closed: target reached
Target reached with 120 pips from the entry price.This trade setup is now closed.
Cheers!
Happy Trading!
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