Shorting EUR/USD at Resistance
Current analysis of EUR/USD reveals a robust short opportunity as the pair encounters significant resistance near the 1.0780 level, corroborating previous structure highs.
Anticipating a pullback, I have entered a short position. The strategy is anchored by a decisive take profit point at the 61.8% Fibonacci retracement level at 1.0749, which historically signifies a potential reversal zone where bullish momentum could resume.
This setup offers a strategic balance between risk and potential reward, targeting a return to key Fibonacci support before a potential upward pivot.
Anticipating a pullback, I have entered a short position. The strategy is anchored by a decisive take profit point at the 61.8% Fibonacci retracement level at 1.0749, which historically signifies a potential reversal zone where bullish momentum could resume.
This setup offers a strategic balance between risk and potential reward, targeting a return to key Fibonacci support before a potential upward pivot.
Transaction en cours:
Here we go!!
Trade fermée manuellement:
Earlier today I had to adjust my stop loss 5 pips above my original stop loss because I knew price would drop back down, we closing this trade, new trade posted soon.