So, EUR/USD broke april support level creating a lower low for the month with a shooting star followed by a bearish engulfing . Im expecting a slight pullback at 1.11445 to around the 1.1170's area before a continuation towards the downside. Pair is currently sitting on the 0.618% retracement also commonly known as the pivot on the retracement.
i've set a few take profit targets, TP1 at 1.11445, TP2 at 1.10697, TP3 at 1.09830 and TP4 at 1.08204 respectively
Trade closed: stop reached:
So this trade took a turn for the worst. Since market open last sunday bulls dominated. Again would like to reiterate i am currently a student. Set my stops in place and it hit. Another learning curve to go back to but i'm happy to take my first loss using my conserved risk reward method. Anyway..