I have placed an order to go short from the 38.20% fib level.

FX:EURUSD   Euro / U.S. Dollar
60 1 3
2016Sep22 I have placed an order to go short from the 38.20% fib retracement level at 1.1220. My target is set to 1.1166 and my stop 1.1256.

My target brings me down to the lows reached on 2016Sep09 and 2016Sep13.

I believe the pair has more downside momentum, but wants to retrace first.
Comment: Well, the price retraced on the 38.20% fib level but on the 30 min. chart. I have allocated my funds to a short on oil.
Comment: The pair has reached the 38.20% fib retracement level on the hourly chart and I have entered a short trade.
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