Short EP for EURUSD with evidence of bear accumulation
Hi traders,
This pair has been ranging. Yesterday's high shows high volume. Currently still in AS is loading up, and I believe a bear accumulation is underway as the institutions are keeping the PA mostly above this half level. Wait for a nice PA wave for EP around 1.08500 to short. This should give you a nice risk to reward ratio of 3.11, SL at 1.08850 and TP at 1.07720 (Range Day Low).
Cheers and all the best
ForexPipCheats
Legal Risk Disclosure:
Trading foreign exchange or CFD on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work for you as well as against you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite. The possibility exists that you could sustain a loss of some or all your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor.
Disclaimer:
Any opinions, news, research, analyses, prices or other information discussed in this presentation or linked to from this presentation are provided as general market commentary or educational information and does not constitute to investment advice. I do not accept liability for any loss or damage, including without limitations to, any loss of profit, which may arise directly or indirectly from use of or reliance on such
This pair has been ranging. Yesterday's high shows high volume. Currently still in AS is loading up, and I believe a bear accumulation is underway as the institutions are keeping the PA mostly above this half level. Wait for a nice PA wave for EP around 1.08500 to short. This should give you a nice risk to reward ratio of 3.11, SL at 1.08850 and TP at 1.07720 (Range Day Low).
Cheers and all the best
ForexPipCheats
Legal Risk Disclosure:
Trading foreign exchange or CFD on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work for you as well as against you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite. The possibility exists that you could sustain a loss of some or all your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor.
Disclaimer:
Any opinions, news, research, analyses, prices or other information discussed in this presentation or linked to from this presentation are provided as general market commentary or educational information and does not constitute to investment advice. I do not accept liability for any loss or damage, including without limitations to, any loss of profit, which may arise directly or indirectly from use of or reliance on such
Trade closed manually:
Took an early 30pips profit as the price has reached the daily support 1
Trade closed: target reached:
If you followed through, the range daily low take profit level was hit. Nice 80 pip profit