Range Breakout Failure on the Daily! EURUSD Short.

Hello Traders!

1. We see a range made by the EURUSD market on the daily timeframe.

2. There was a clear breakout with the closing of the breakout bar way above the range.

3. A bearish inside bar was formed right after it.

4. Market has also tested 88.6 per cent fib.

5. Once the low of the mother bar (breakout bar) is broken, we can see movement downwards till the market orange zone.

6. Remember, this is on the daily timeframe, so delivering the target may take some time.

Do use proper risk management.
Happy Trading!

Profits,
Market's Mechanic.