EURUSD: Short-Term Retracement Trade
Updated
EURUSD Timeframe: H4
Direction: Long
Confluences for Trade:
- Price at Support of Parallel Channel
- Fibo support (61%) lies at 1.1187 (SL level is below that, just in case)
- Stochastic Overbought momentum (W1, D1, H4 & H1)
- Fundamentally, EU-Italy impasse is still at large but market have pretty much priced in such situations; leadin strong weakening this week.
Going for a short-term retracement trade here.
Suggested Trade:
Entry @ Area of Interest 1.1200 - 1.1250
SL: 1.1169
TP: 1.1353
RR: Approx. 2.02 (Depending on Entry Level)
May the pips move in our favor! Good luck! :D
*This trade suggestion is provided on an advisory basis. Any trade decisions made based on this suggestion is a personal decision and we are not responsible for any losses derived from it.
Note
Lock in half the profits and move SL to BE. Run the remaining position totally risk free. :DTrade closed: target reached
Disclaimer: The personal opinion above does not constitute as an investment advice. Any decisions taken based on the above opinion is purely at your own risks. DYOR.
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