Euro / U.S. DollarShort
$EURUSD Short.
We have an excellent opportunity for a short here but, as always, risks is there so we are keeping tit very tight. We are running 2.5% of port on this.
Before the we rationalise the trade, here are the details:
Entry: 1.10044
Units: 2,500
SL: 1.10169
TP: 1.08608
We are currently following a distribution pattern after clearing 1.08. Currently we are in the midsts of Phase B in which 2 scenarios can come out:
1. Phase C reaches the highs of the structure
At this point it indicates a strong Change of Hands where institutional investors sell and distrubute their stock to retail investors. This structure is thus formed by the lows and highs set by AR and PS(Technically it should be Preliminary Supply instead of Preliminary Support). If we hit the high in this structure I am hoping my SL is enough to tank a larger buying momentum
2. Phase C fails to reach the highs of Phase C
If Phase C fails to reach the highs of Phase C, we may be unable hit the entry and will have to either manually limit/market.
Before the we rationalise the trade, here are the details:
Entry: 1.10044
Units: 2,500
SL: 1.10169
TP: 1.08608
We are currently following a distribution pattern after clearing 1.08. Currently we are in the midsts of Phase B in which 2 scenarios can come out:
1. Phase C reaches the highs of the structure
At this point it indicates a strong Change of Hands where institutional investors sell and distrubute their stock to retail investors. This structure is thus formed by the lows and highs set by AR and PS(Technically it should be Preliminary Supply instead of Preliminary Support). If we hit the high in this structure I am hoping my SL is enough to tank a larger buying momentum
2. Phase C fails to reach the highs of Phase C
If Phase C fails to reach the highs of Phase C, we may be unable hit the entry and will have to either manually limit/market.
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