There is a double top for EURUSD with the left top yesterday, February 1, and the right top today, February 2. The neckline was likewise broken today, with the a candle close of 1.24451. Thus, I am looking for a short opportunity by placing an aggressive sell limit at 1.24766 (61.8 Fibonacci retracement of the right top to the recent swing low). The stop loss is placed at 1.25280 (just above the left top) while the take profit level is at the recent swing low (1.24092). I plan to cancel this pending order if price goes to TP1 before getting triggered.
Trade Setup: Trend Reversal
Price Entry 1.24766
SL 1.25280 | SL pips 51.4
TP1 1.24092 | TP1 pips 67.4
RRR1 1.31
Status/Remarks: TP1 hit! :)
Trade Setup: Trend Reversal
Price Entry 1.24766
SL 1.25280 | SL pips 51.4
TP1 1.24092 | TP1 pips 67.4
RRR1 1.31
Status/Remarks: TP1 hit! :)