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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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.