Euro / U.S. DollarShort
Shorting the EUR/USD with the Andrew's Pitchfork
The median line (middle line) of this Modified Schiff Andrew's Pitchfork is acting as resistance (which also acted as temporary support on the topside) at the end of a strong move down in price. I entered a short trade at 1.2107 and expect price to fall to my target of 1.2067 (although the lower parallel of the pitchfork is the ideal target I chose a numerical target for the purpose of this posting) for a risk/reward of 1:4.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.