EUR/USD CHANNEL SHORT|STRUCTURE TRADE

17 lug 2020

EURUSD is trading in an upward channel, and has just reached a confluence of a channel resistance and a lower end of the horizontal structure resistance.
+a double top will be formed. Thus- we aim at short.

The resistance, though violated on 8 hour remains intact on the daily and therefore I consider it to be valid.

TRADNING PLAN:

1-Enter in the identified entry area, with sell limit.

2-SL and Takes are on the chart.

3- What if the price does not reach the take area and does down from here? >>setup invalid.

Great trade with 3,5:1 risk reward and about 50% probability

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