EURUSD Bearish Cypher
Updated
Disappointed that I to only see this so late in the game.
EURUSD positioning still short giving a bullish bias to EURUSD, esp if EURGBP continues to rally. At the same time price is in the 1.1460-1.1220 fib zone for sell trade so there are two ways to play this.
STRATEGY A
Buy 1.1290 for a move into TP 1.1410 for 2.89 Reward:Risk. and 3x reversal below 1.1260 for moves into 1.1180 for break even or profit.
STRATEGY B
Sell current levels 1.1352 for TP 1.1290 for 1.96 Reward:Risk with a 3x reversal above 1.1385
EURUSD positioning still short giving a bullish bias to EURUSD, esp if EURGBP continues to rally. At the same time price is in the 1.1460-1.1220 fib zone for sell trade so there are two ways to play this.
STRATEGY A
Buy 1.1290 for a move into TP 1.1410 for 2.89 Reward:Risk. and 3x reversal below 1.1260 for moves into 1.1180 for break even or profit.
STRATEGY B
Sell current levels 1.1352 for TP 1.1290 for 1.96 Reward:Risk with a 3x reversal above 1.1385
Note
EURUSD rallied-60 pips on 1 lot short
+27 pips on 3 lots long
net = +21pips
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