FX:EURUSD Euro Fx/U.S. Dollar
EURUSD bounced, but the long term trend is down, check the hourly chart or the 4 hour chart. So that means these are good shorting opportunities... however, we are in a range, so our target, or at least our partials target has to be reasonable... for this reason the target is not new lows, that would not be reasonable... If we traded like that over last 4 days, we would have had the market bouncing back at us and never taking profit. So we will take that fat tail as our target. Lets say 1.2411 area... stop is above the high here...
Apologies, here in the UK, we don't know much about Thanksgiving holidays, but I guess that's the lesson to be learnt, If you going to trade a US dollar pair you need to know when their country is on vacation. Ordinarily this would have been done in 18 hours. Instead as your title says, it will be drawn out till Monday end of play. Well done, and best for the trade. Cheers.
While my idea is still here to see... I decided to close the position in my real account at a nice profit. We may still reach my intended target. My only concern with holding for new lows is that it may bounce around in the range for a while... so I have made this trade based on the range.