Hope you all had a good ride on the EURUSD last week. To who didn’t catch the train, well, we have good set up here on its retracement.
I like to see any currency pair that has been very volatile on its impulsive move. If I ever missed it or want to add to my current open position, Its an opportunity to add up !
See below chart self explanatory
Apparently , last week the price went into a demand that was produce back in July. The good thing is , after that impulsive move, a retracement is bound .
That is where I look for a fresh supply.
So I look down into the 5 min which normally a precise entry for intradays.
2 supply noted, one on a 5 min chart, the other on a 1 minute chart.
Both this supply given me opportunity to short with multiple stacks with the target on the demand it recently hit.
My plan is, on monday morning, will short at that area and with the target at 1.15754.
Happy hunting everyone.