EURUSD – Corrective Price Action Setup Profits | Oct 29th
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EURUSD – Sell Trade Idea Near 1.11 Profits Heavy (1hr chart)
As we talked about in our members commentary on Tuesday, we were bearish and looking to sell near the key resistance at 1.11. This was based on the corrective price action structure and the key level lining up.
As you can see from the chart below, this is exactly what happened with the pair getting within pips of the 1.11 handle, then dropping 200 pips to our first target in less than a day.
Congrats to the members who profited from this as you don’t have to wait for weeks for trades to materialize. The bounce recently suggests more strength so I would not look to sell till 1.11 at the earliest. Only a daily close above 1.1175 negates my bearish bias ST.
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