6E and EUR/USD short setup
Prior volume has formed resistance at prices 1.05 and above. The most recent movement of price into this resistance area was followed by immediate rejection. The trade setup is a short entry at or close to 1.05, with a target price of 1.03; just above support.
Below 1.03 there are multiple supports that [may] be broken: 1.01, and possibly 1.0 if 6E and EUR/USD return to the short-trend channel established August through November.
Below 1.03 there are multiple supports that [may] be broken: 1.01, and possibly 1.0 if 6E and EUR/USD return to the short-trend channel established August through November.
Trade active
Filled at 1.04545Note
Trade is up +188 ticks, and moved stop loss to breakeven with +25 tick offset.Note
Stop loss offset increased to +100 tick profit.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.