EURUSD
We printed a solid 7 RR on the last EURUSD call, lets milk it. We are in a downtrend with plenty of imbalances to fill. Lets do it. I'm setting 2 limits here.
Scenario 1: We hit local high and head back to see lower lows, local high is the middle of major imbalance and will likely sit nicely as a liquidity grab. We want to avoid getting stopped out on this so SL will be wide on this, bringing RR to 2. These imbalances are going to have to be filled before heading down lower. Volume and momentum indicators both agree with this.
Scenario 2: Local high is hit but bullish momentum pushes us up. I'm still fairly confident the trade will not lead to trend reversal as there are no signs of divergences on any of the TF. Limits are set at zone high with SL marked in area slightly above a potential liquidity grab. If we enter into scenario 2, we will be running two shorts simultaneously and will be riding to the next support. In this scenario feel free to take it as the risk is significantly lower with it providing a 10 RR opportunity.
All the best! Godspeed.