.886 Fib Retracement at 1.2375 Daily Woodie R2 at 1.2367, R3 at 1.2389 (price very rarely goes to daily R3) Trendline from previous significant highs matches RSI 30m approaching overbought. RSI 1H past slightly overbought US Retail Sales MM coming up really soon (positive forecast)
Entry 1.237 Stop Loss 1.2389 Profit 1.2257 (watch price action around 1.235/1.233
Notes: Should have entered earlier, need to wake up sooner. Price should bounce from .786 Fib at least once more. If not, enter after confirming Retail Sales MM
Trade active
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Entered at 1.2365 I'll miss those 5 pips
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Retail Sales higher than expected (F 0.4, A 0.6). Price is going up however. RSI 1H is pretty much overbought. I'll re-enter the trade in case my stop loss is hit. As a sidenote, I should enter at Fib retracements/extensions and not Woodie pivots.
Trade closed: stop reached
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Looking back at it, it never had any short term bearish divergence. My mistake