Probable Demand Zone
EURUSD has been going through an extended complex pullback pattern on higher TFs. It seems another bear leg to 1.1175, the FIB 61.80% retracement level, is becoming a probable scenario. Selling short to 1.1175-1.1250, covering and flipping long is the potential setup. As always, managing risk is the most important part. Fractional risk of 1.5-3% approach is the default approach. The size of a trade decreases as the risked price range increases. In another words, trading higher TFs requires a longer wait and a smaller size. Extremely boring.
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