EURUSD Bearish Flag + 3 Possible Setup

Jan 14, 2019

EURUSD is currently on a bearish flag and has 3 possible setups; 2 breaking the flag to the upside and 1breaking to the downside.

Setup #1 (Breaking to the upside):

- When the market price breaks to the upside and has broken the 1.15000 level, you can enter the following order:
- But Stop @ 1.15100
- Stop Loss @ 1.48300
- Take Profit @ 1.16000
- Risk/Reward Ratio: 3.33

Setup #2 (Breaking to the upside):

- Make sure that the price breaks to the upside, and touches the 1.1500 level.
- Ensure that the 1.1500 level shows a strong resistance.
- Once the market price has gone down, you can enter the following sell trade:
- Entry Price @ 1.14775
- Stop Loss @ 1.15050
- Take Profit @ 1.13600
- Risk/Reward Ration: 3.08

Setup #3 (Breaking to the downside):
- When the market price breaks down to the downside, you can enter the following order:
- Entry Price @ 1.14475
- Stop Loss @ 1.14800
- Take Profit @ 1.13600
- Risk/Reward: 2.69000

Cheers!
Happy Trading!

Jan 15, 2019

Note

Sell order entered, however, Brexit might affect the price before reaching the take profit level, hence stop loss is very important in this trade.

Jan 18, 2019

Trade closed: target reached

Target reached with 120 pips from the entry price.

This trade setup is now closed.

Cheers!
Happy Trading!