I have been building EU short position since early April 2018. Trying to add upon each good bounce, hoping to ride down to 1.07 by end of year.
The Grey zones on the chart are from my Fibonacci Support and Resistance analysis as for July 1st 2018
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I started collecting shorts on EU in early April 2018, when it looks like a topping pattern with EW waves starting down:
Then I fined tuned the fibs and EW with updated plan: This last plan worked well. That last bounce was a wee bit higher than the plan, but USD has new strength now so I expect the EU downtrend to resume shortly.
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Currently watching the lone fib line at 1.15715 for possible signs of exhaustion, but hoping to goes to my idea entry point above (come on UK boys, run some stops for me in 1/2 hour)
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Oh noooooo! please dont drop yet :(
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Bummer, I might have missed the entry :(
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That's it, had to add a small short there (0.5% of account size)
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My mico-short doing well so far. The fact that EU did not reach my ''ideal'' entry, says BEAR mode
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My front run short scalp in last picture was taken out by trailing stop with 20 pips profit. Then my bigger limit sells at planned zone were triggered, now trailing stop on the main trade
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New Fib extensions in blue, and they look to be solid. So am watching for the possible red wiggle for next drop to the 4.618