$EURUSD | Sell Trade H4 | Execution |

8월 15일

Technical Confluences:
- Stochastics just reversed off Overbought conditions in H4
- Price bounced off 123% Fibo Extension levels which coincides with a Supply Zone from before and also the top of a small Parallel Channel
- Looking at it move towards at least the lower end of the Parallel Channel

Fundamental Confluences:

- With so much of rate cut hype priced into the markets, it seems that market will start to consolidate and start profit taking.
- There are a few speakers who came out to say they don't seem to be in a rush to cut like what the market expect.

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Taking my 1st position for this EURUSD sellb trade.

Targeted trade entry and stops can be seen in the highlighted zone. Blue for Profit Target and Orange for Stop Loss Target.

Risk/Reward ratio of 2.1.

DYOR.

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