EURUSD short trade based on Ichimoku and fibonacci analysis
Indicators
Ichimoku set to default settings 9,26,52,26
Fibonacci retracement tool
The below short criterias have been met
Price is below the cloud indicating a downward trend
The lagging span is below price
The conversion line is below the base line
price has retraced to or close to key fibonacci level (the the 50% fibonacci level)
bearish candel stick pattern has formed in key value area (bearish engulfing candel has formed on the 1m chart inside a key interst area)
Targeting previous lows at 1.01210 for a 3.8 risk to reward
Ichimoku set to default settings 9,26,52,26
Fibonacci retracement tool
The below short criterias have been met
Price is below the cloud indicating a downward trend
The lagging span is below price
The conversion line is below the base line
price has retraced to or close to key fibonacci level (the the 50% fibonacci level)
bearish candel stick pattern has formed in key value area (bearish engulfing candel has formed on the 1m chart inside a key interst area)
Targeting previous lows at 1.01210 for a 3.8 risk to reward