Short term Short Trade for EURUSD, Range play

EURUSD have been ranging from 1.150 - 1.185. We have a very nearby swing high at 1.175. Until US Session is open, price might go back to this area, which could give us an opportunity short. Or, one could just chase the price now with a slightly higher risk as your Stop Loss is wider. Stop Loss placed at 1.186, slightly above the previous swing high at 1.185. The main reason for this is that the previous swing high is very near our current one. Sometime price can just shoot up back to that area to eat up the liquidity before heading back down again.

Two level of possible TP zone, one at 1.1660 and the other at 1.1600. I think 1.1600 might be hard to hit without any source of news event as a catalyst. I will prefer to take my money at 1.1660.

Whether or not you should take this trade depends on 1 thing
1) Are you comfortable with the wide SL at 1.1860 compare to the TP zone at 1.1660. If you find the SL to be too wide, it can be shifted to 1.1800. Of course the chances of hitting it will be much higher. It's all about risk management and personal preference.

All the best!

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Trade closed: target reached:

Closed!! Another profit within 24 hours!