Week 11 Trade 2 EU Short Short

Euro Fx/U.S. DollarFXCM

Description

⋅ Mar 13, 2019 5:08 PM

Reasons for entry:
- 88.6% fib rejection
- 1.1310 Minor psychological level
- PA is wicking + bearish engulfing
- Price is losing moment and beginning to stagnate
- 2hr Doji, possible evening star forming on the 2hr

Entry Timeframe:
- 1hr bearish engulfing (weak) + 2hr Doji
- 1.1305

Stop Loss:
@1.1319 (-14pips)

Take Profit:
Target 1 @1.1225 (+80pips) = Risk/Reward : 1:5.9
Target 2 @1.1200 (+105pips) = Risk/Reward : 1:7.8
Target 3 @1.1150 (+155pips) = Risk/Reward : 1:11.5

Notes :
- 2nd attempt at shorting this EU trade

Trade closed: stop reached

⋅ Mar 13, 2019 10:27 PM

SL Hit -14pips