EUR/USD: Bearish Below 1.1011

We have a situation. We're bearish EUR/USD - at least temporarily.

The Situation: We’re bearish below 1.1062, however, if price gets that high it invalidates our idea for a short-term bear trend. That said, we like short spots below 1.1011.

Bearish Techs: Bearish Divergences present in the Daily MACDizzle, MACDizzle Histogram, RSI, and Slow Stochastics. RSI signal sub-50.0.

Bullish Techs: Bullish convergences in all previously mentioned daily indicators. Strong 3 month uptrend.

Implication of Techs: The potential for a series of good short spots. USD’s Revenge!

Dangers: EUR/USD currently trades at 1.0924, which is in the **Fibonacci Golden Zone** of the recent **1.0725 to 1.1137** move. Price could reverse from here and provide punishment and NAV reduction mathematic lessons on shorts.

Dangers: The thing is bullish and in an uptrend.

Gameplan: We’re gonna camp out for shorts.

Bearish Price Targets: Support Zones! Need to get below 1.0919 (Daily support zone), then 1.0881 (Important support zone), then our first target is 1.0795, then 1.0714 on down. See below.

Daily Support Zones: 1.0919, 1.0881, 1.0795, 1.0642
Major Support: 1.0504.

Preferred Stop Loss Zones on early entries: Over 1.0968.

Current Situation: Flatski.
Current Price: 1.0923

Comment:

Not jumping in the current short. Need a good rally, then we'll take the next one.
Current Price: 1.0920.

Will post an update on entry execution.

Comment:

Current Price: 1.0938
We're probably not participating in this trade. All the margin is tied up in the recent USD/CAD idea. (It triggered first.)

Comment:

Back to EUR/USD!

Waiting to enter a short position on EUR/USD with stops at 1.0968.
Current Price: 1.0943

Trade active:

Short executed at 1.0943!
Stops at 1.0968.

Current Price: 1.0943

Trade closed: stop reached:

Flat at 1.0968 -25.

Fail!
Loss!

Comment:

Camping for the next short spot. Staying with the idea.
Current Price: 1.0966.

Order cancelled:

***This Idea is Dead***
Current Price: 1.0978

Trade active:

***Idea is not dead.***

Taking a short spot at 1.0944, stops at 1.0970.

Trade active:

Moving stops to 1.0924.
+20 Pips locked

Entry: 1.0944
Current Price: 1.0877

Trade active:

Moving stops to 1.0904. +40 locked.
Current Price: 1.0874

Trade active:

Moving stops to 1.0894... +50 locked.

Comment:

Easing stops down to 1.0889
+55 locked.

Might get squeezed out of this one. I really wanted 1.0795 or 1.0715ish.

Comment:

Flatski @ 1.0889
+55 Pips.

Win!

Trade active:

EUR/USD: Short @ 1.0858, Stops @ 1.0910
Target: 1.0795, 1.0730

Current Price: 1.0859

Comment:

Remain stiff damnit!
Hold the line bitches!

lol!!!
Current Price: 1.0869

Trade closed: stop reached:

Stopped out at 1.0910.
-52
Fail. Not a bad trade.

LOSS!

Trade active:

Short re-executed at 1.0902, stops at 1.0915. (Top of range.)

Trade closed: stop reached:

Flat @ 1.0915
-13
Loss!