Updated EUR/USD 1HR SELL

11 thg 8, 2020

A short position on EUR/USD , overall downtrend on the pair you can see retail traders had pushed down the pair 1.7208 before collecting the liquidity at the zone above as the big intuitions usually do to counteract their longs from 1.17552 and then adding more shorts from the 1.17552 area to make a push to the downside to the 1.7000 area. The red box indicates the moment market makers took over to drive the price up and off that candle is how I formed my sell zone with a Fibonacci of that candle for the bottom and the .50 retracement to form the sell zone. Price is respecting the descending trend channel from it's high and we are looking to have the 1.7000 are targeted for profit.