EUR/USD - SHORT

B:-
• MONTHLY - August, coming to end the market has previously made a engulfing during the month of *JULY* Giving us some indication of where it's headed to the back end of the year
• WEEKLY - Has been choppy but we can use our indicator (EMA) to filter the noise, at the moment EMA's are currently suggesting further decline on EURO overall,
• DAILY - As highlighted previously, Daily still maintaining the structural formation of the trend, LL + LH's with us trying to anticipate the breaking of the previous slow, thus giving us added confluence towards our bias from higher T.F

L:-
• Level being traded currently is 1.011 - this is a mid range region,
• Another level to take into consideration is 1.10666 this could possible cause some pull backs in the market, but with overall bias expecting this to be breached.

S:-
• Signal, the signal being used is fairly simple here... bearish engulfing 8 - 12H Timeframe, & plus breaking out of a key level of structure support giving us added confluence of bearish momentum in the market overall.


R = 2.5%

R.R = 2.99/3.00

(Trading Journal)
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