This idea I made is based of smart money concepts. There seem to be several confirmations that this trade will go as planned. News affecting the price of the USD is going to be released on Monday too, which is expected to be good for USD. This reinforces this trade as the USD being stronger will make the EUR/USD pair go down in price in a faster amount of time. I...
On the 4hr and 1hr chart, we see that the previous high was an order block (evident by the high volume). Order blocks by definition end up getting filled to create a fair price for buyers and sellers (in this case sellers) to get back in the market.
The stop loss is set underneath the previous support. It doesn't sit on the support because the high volume on...
There appears to be a solid trend heading downwards, and it would be a perfect time to enter now as it has just reaches a lower high. This allows us not only to have a good entry point, but to also minimise the risk and have a 1:2 RRR for TP1 one 1:6 RRR for TP2.
Now that you are here you may as well follow :)
