More USD strength? - EUR/USD Ichimoku Trade Setup
We saw a massive spike down and below price structure support last week as the US rallied to some big gains.
I am looking for this new trend to continue to establish itself and am looking for a drawback to enter a sell.
I've drawn a possible entry level where I'd like to see price drawback and reject at for a chance to sell.
I've drawn out my partial take profit levels and major price structure target to aim for as long as the trend is valid.
I placed my stop above the recent wicks we saw from the last little move down we saw.
If we fail to get a drawback we can start looking for sells below our current candles, but the risk to reward is much better if we can be patient and see a retracement first.
If we fail to get that drawback or if our bearish confirmations change, this setup may become invalidated.
I am looking for this new trend to continue to establish itself and am looking for a drawback to enter a sell.
I've drawn a possible entry level where I'd like to see price drawback and reject at for a chance to sell.
I've drawn out my partial take profit levels and major price structure target to aim for as long as the trend is valid.
I placed my stop above the recent wicks we saw from the last little move down we saw.
If we fail to get a drawback we can start looking for sells below our current candles, but the risk to reward is much better if we can be patient and see a retracement first.
If we fail to get that drawback or if our bearish confirmations change, this setup may become invalidated.
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