It's ugly but it hits all the right spots. (EU Short)

FX:EURUSD   Euro Fx/U.S. Dollar
237 7 4

Just entered a full short pos             in EU
I like it, entered a little before you did. It's definitely time for a correction
stocktrader15 PRO michaelquale
I got in an entry position a little early risking 1% but when it hit the C point, to complete the butterfly pattern I entered a full position and tripled my position size like I always do when I take a full position. Butterflies have the best risk reward out of all they harmonic patterns and they have a pretty high hit rat as well. Plus the TPs I have set up where made using the fib lines based on the CD fib extension but they also line up perfectly with a couple major trend lines and all my stoch indicators are oversold, my RSI is oversold and crossing back over the 70k line which is a great sign of a momentum shift.. Felling as good as you can trading EU.
although I 'm feeling unsafe , I have to agree with this setup.
Meh.. you know the game.. See the pattern trade the pattern, control the risk and just keep plugging away.. I would be doing a deserves to myself and my system if I didnt take the trade.
stocktrader15 PRO stocktrader15
disservice* damn spellcheck :(
BTW you will have to zoom out to see my second TP :) Make sure you do that iof you are checking out the chart. When it hits the first TP at the .618 extension I will close half my position and move my stop up to my buy point. Then I will let the price drop to my second TP at 2.272 or stop out at my buy point for nice profits either way :D
+1 Reply
MIchaelTran stocktrader15
that's nice and thank you for your sharing :)
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