TRADING IDEA UPDATE - EURUSD TRIGGERED STOP LOSS
The U.S. CPI report data came out right what the market expected (2.7% vs. 2.7% annually). After this report the pair went downwards on increased volume, triggering my stop loss and found the support only on 4-h sma200 and 1.16000 level.
What will be the possible scenario next?
I assume that the asset will go testing the trendline at 1.16650. If the test is successful, I will consider opening a
đź”˝ a pending sell stop order at 1.16651 with
❌a stop loss at 1.18180 and
🤑a take profit at 1.15122
Only if the retest is successful, not earlier! Let's observe first. Additionally, today is the U.S. PPI report coming out at 12:30 p.m. UTC, so got to be careful around this time
The U.S. CPI report data came out right what the market expected (2.7% vs. 2.7% annually). After this report the pair went downwards on increased volume, triggering my stop loss and found the support only on 4-h sma200 and 1.16000 level.
What will be the possible scenario next?
I assume that the asset will go testing the trendline at 1.16650. If the test is successful, I will consider opening a
đź”˝ a pending sell stop order at 1.16651 with
❌a stop loss at 1.18180 and
🤑a take profit at 1.15122
Only if the retest is successful, not earlier! Let's observe first. Additionally, today is the U.S. PPI report coming out at 12:30 p.m. UTC, so got to be careful around this time
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.