davidleekuanyong
Short

EURUSD, signs of downtrend?

FX:EURUSD   Euro / U.S. Dollar
EURUSD             4hr price action showing signs of downtrend. However I would prefer to short on retracement since there is a long wicked candle on the left. I remembered clearly last time such candles often warn us that the market may slightly move upwards and it is risky to short on breakout or at market price.

Hence I would be preparing to short at 1.178, just to give myself a good risk to reward ratio & most importantly for the market to fluctuate without hitting my stops prematurely. Of cos there is a possibility that EURUSD             may not trigger my short 1.178 and I will miss this trend all together. This is an opportunity cost i am willing to pay for a better risk to reward ratio.

First target for my downtrend will be 1.1721 while second target at 1.16491. Will trail my stops if prices trading near first target.

This is not a buy/sell call, do double confirm with your trading plans. Happy Trading Everyone =)
Trade active: market did not hit my short entry at 1.178. Instead i executed a short at 1.1733 with cut loss at 1.1753.
Comment: with 1:2 risk reward target at 1.1693
EN English (UK)
EN English
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
HE עברית
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out