Review my failed EURUSD bearish setup, wait for short formation
Hello traders, I'd like to review my failed EURUSD daily short setup and see if there is any new trading opportunities.
My failed setup looked very nice, with flip zone, fib, MA, correlation...you name it. So, risk management is key. There is no trade in the world that worth you putting everything. Make sure you have robust exit plan and maximum per trade loss rule in place.
So, looking at smaller timeframe, say 60m, price formed a range structure on 60m and choose to go up. During the formation, I identified a short opportunity, but hesitate to pull the trigger. The candle formations were not so bearish. You can get 30 pips at most before being stopped out.
Now, price is heading for the weekly boundary zone around 1.2. I will set alerts and see how price react to the level on 60m. If the bearish formation looks good, I'm expecting big move to the downside.
Don't force yourself to take the trade. Be patient and let the market tell you what to do. If the formations don't look good, risk less.
Trade safe and have a nice day!
Give me a like and follow if you think my post is useful.
My failed setup looked very nice, with flip zone, fib, MA, correlation...you name it. So, risk management is key. There is no trade in the world that worth you putting everything. Make sure you have robust exit plan and maximum per trade loss rule in place.
So, looking at smaller timeframe, say 60m, price formed a range structure on 60m and choose to go up. During the formation, I identified a short opportunity, but hesitate to pull the trigger. The candle formations were not so bearish. You can get 30 pips at most before being stopped out.
Now, price is heading for the weekly boundary zone around 1.2. I will set alerts and see how price react to the level on 60m. If the bearish formation looks good, I'm expecting big move to the downside.
Don't force yourself to take the trade. Be patient and let the market tell you what to do. If the formations don't look good, risk less.
Trade safe and have a nice day!
Give me a like and follow if you think my post is useful.
plan your trade and trade your plan
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