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dylansi
Jul 8, 2019 6:08 PM

EUR/USD 1W SHORT Short

FX:EURUSD1W
Euro Fx/U.S. DollarFXCM

Description

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Expect a drop the the 38.2% fibonacci retracement level by the week's end.
  • channel highs on the weekly chart are followed by drops to the 38.2% retracement level
  • EUR/USD was roughly at a channel high last week

Trade closed manually

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The news of the fed's reduction of the interest rates reversed the trend, and the trade was closed for a loss.
Trend AnalysisChart Patternseur_usdshort
Comments
DACapitalTrading
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Simple and effective charting, where exactly do you think price is heading to now?
dylansi
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@DACapitalTrading, thanks for your comment. I don't know where price is headed in the next 4 hours or day-- I wish I did. I haven't yet grasped how to consistently predict price movements in periods shorter than 1 week.
DACapitalTrading
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nice trade!
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