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Proficientfx

EUR USD BREAKDOWN (03/17/19)EUR USD is currently trading in a bearish structure so we are looking for SELLS ONLY, until price breaks structure by creating a higher high. Price is currently showing some resistance at the 61.8 Fibonacci level. Retail traders are starting to see this resistance and will likely start shorting from here and placing a stop loss above the highs around the 1.13600 level. Retail traders will also place buy stops above these highs looking for a bullish breakout. This will be our SELL ENTRY level. Price is likely to spike up to the 1.13600 area to takeout early retail shorts and pickup liquidity by triggering retail buy stops. MARKET MAKER: At the 1.13600 level we have a previous market maker setup where institutions created a KILLSHOT ZONE (this where institutions bought into the retail bearish candle to takeout buy stops, grabbing liquidity to then trade lower). Now we are looking for price to retest the same bearish candle (purple box) the institutions bought into and for the institutions to mitigate the longs used to run the highs and enter additional shorts. Price reaching the 1.13600 level will also be a close of the liquidity void. TECHNICAL: We also have some technicals lining up with this market maker setup. At the 1.13600 level we have the 200 SMA and Bearish Trend Line meeting up in the middle of the 70 and 80 Fibonacci level. TRADE INFO: EUR USD SELL LIMIT @ 1.13600 (40 PIPS) STOP LOSS @ 1.14000 TAKE PROFT ONE @ 1.12500 (110 PIPS) TAKE PROFIT TWO @ 1.12000 (160 PIPS) TAKE PROFIT THREE @ 1.11400 (220 PIPS) WEBSITE: proficientfx.thinkific.com YOUTUBE: www.youtube.com FX:EURUSD
Short
by DEGENLEVI