EURUSD Channel Trade 3:1 risk reward

21 thg 5, 2020

This pair has been trading within a fairly well-defined channel for quite some time now and the latest daily candle looks as though price is reticent to go higher and we have a nice rejection from the channel top and 200EMA indicating we are well set to go short here. We are at the channel top so this allows me a nice tight 55 pip SL and a 150 pip TP such is the structure so this looks a great trade.

Best of luck traders.