EUR/USD Bearish Pennant Breakout
A few short trade opportunities targeting 1.21726 ultimately.
Price broke out of the pennant last Friday and the
measured objective targets the lows of the bullish rally.
You can of course target 1.21726 immediately but scaling out
profits as indicated with the AB=CD pattern is commendable.
Trade 1
Entry: Close below 1.23065
S/L: 1.23457
T/P: 1.22281
Trade 2
Entry: Close below 1.22767
S/L: 1.23159
T/P: 1.21982
Trade 3
Entry: Close below 1.22468
S/L: 1.22860
T/P: 1.21726/ 1.21684
Beware of volatility especially in this pair this week due to
the FOMC interest rate decision on Wednesday.
Happy trading
A few short trade opportunities targeting 1.21726 ultimately.
Price broke out of the pennant last Friday and the
measured objective targets the lows of the bullish rally.
You can of course target 1.21726 immediately but scaling out
profits as indicated with the AB=CD pattern is commendable.
Trade 1
Entry: Close below 1.23065
S/L: 1.23457
T/P: 1.22281
Trade 2
Entry: Close below 1.22767
S/L: 1.23159
T/P: 1.21982
Trade 3
Entry: Close below 1.22468
S/L: 1.22860
T/P: 1.21726/ 1.21684
Beware of volatility especially in this pair this week due to
the FOMC interest rate decision on Wednesday.
Happy trading