fxstudent299
Short

EURUSD short in the next days - Rejoin EURUSD Downtrend

FX:EURUSD   Euro / U.S. Dollar
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Rejoin EURUSD Downtrend after strong NFP

I will try to enter EURUSD short 1.2410,
SL 1.2515 (-105), PT 1.2195 (+215) (R:R=2.05)

- 20EMA on 1d chart is at 1.2438, so price should not move much higher above it (SL@1.2410 quite safe)
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after strong NFP on last Friday, no follow through to downside but surely many new/late shorts (even more after fall under 1.2300), so many are stucked on short positions, which will be closed, as soon as price goes above 1.2360, whereafter a short squeeze could spike up to 1.2450, and once those late shorts are out, major DOWNtrend should continue to downside

if a clear rejection between 1.2350 and 1.2365, so maybe a short position based on 1h chart with SL 10 pips above high of that rejection and TP@1.2280





My set-up does not play out as expected and 1.2370-1.2390 seems to be a very strong support.
I will place a buy order at 1.2395 to close that position in front of FOMC on Wednesday.
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Disclaimer: There is a very high degree of risk involved in trading forex. I assume no responsibility or liability for any trading or investment results. My posted statements and charts may unintentionally include inaccuracies. All content posted is for educational purposes only and is not a financial advice. The presented set-ups are not solicitations of any order to buy or sell.
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2014.12.09, 09:55 UTC
seems like the resistance zone between 1.2350 and 1.2365 holds (reject further advance),

so I opened a short position @1.2345, SL@1.2378, PT@1.2280
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