It's may be the best price for shorting with small risks. SHORT to first TP :: 83.xx || and second TP :: 81.xx || SL :: 84.80 - 85.00 give it some space for swing short setup. with reducing the lot size :D Have a nice day & Good Luck.
Your trade set-up and idea makes sense. However, I have come up with a different prespective. Can you please have a look. Thank you.
TradersmindXMFX
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@patterntrader, from what ive see, the scenario that u make
1. It makes higher low on ur fib 0., and if it cant break your fib it will continuation trend right? So it will be a bullish pattern. ( with some confirmation from upper trendline break) it will be a clear bullish.
2. If it break your 0 fibo, it means it can comeback to 82.60/70 zone right?
For as I see, your fib 0. Is my TP1 zone.
We have almost same plan, but i havent decide to do some long plan for this currency :D , but will make this to my watch list for this week.
Thanks for your comment mate :D Have a great trade !!