EURUSD STRUCTURE SHORT|DETAILED PLAN

23 giu 2020

We are most likely seeing The dead cat bounce, and, as a dollar bull I am going short if the price goes a bit higher. The current price level is in itself a small resistance level, which serves as an additional signal.

It is possible for the pair to form a double top, or even to shoot a bit higher for the stop loss collection, but that is why I placed my stop ABOVE the last high level.

Also, If the price makes the double top, I will double down on my short moving my stop higher and making my average price better, while keeping the take profit level the same. Which is the least it should make. I suggest keeping a trailing stop on this trade, should it go our way. The price might go WAY lower.

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