Euro / U.S. DollarShort
The EURUSD short
As I mentioned in my previous post, when the price action breaks the TRENDLINE, it's time for FLAG.
We have it right now happening on EURUSD, so when the flag is fully formed, usually continuation occurs.
Im looking for a short on EURUSD soon around 1.2375.
Why there?
It looks like fibbonacci zone 61.8% alligned with a 4h support so im looking forward for a sell around that zone.
About take profits, fibbonacci extension levels 127% and 161.8% fit nicely on the 4h supports so my first target is around 1.2187( Risk/reward 4.2)
and the second target around 1.2087(Risk/reward 6.6).
1h chart flag close-up:
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