This post is inspired by the discussion with a group of my students. We were looking at where EURUSD could possibly turn
Spotted the following 2 patterns on the pair - a Bearish Crab on the H4 chart. Completion @ ~1.2125 - a Bearish Shark on the D1 chart. Completion @ ~1.2085
Let's monitor this closely. Tonight FOMC. I would love to see another higher high to complete the above mentioned patterns and the indicators shows us a bearish divergence !!
Comment
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I guess it is beginning for form, I see a potential bearish Divergence happening. Naturally it does this as the market is waiting for NFP tonight.
(Apologies..... dunno where I saw FOMC yesterday, it is NFP tonight)
Trade active
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Currently running at +115pips profits. Tightened SL to 1.1988 protecting a minimum of +68pips profits. Making this a risk free trade.
Trade closed manually
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Closed at 1.1932 with a +123pips profits. Will monitor this closely, look for retracement to re-enter short again
what is the TP of the short