After EURUSD ha broken its' previous trend-ish movement (organge dashed line), it has again formed a downtrend. This gives us the opportunity to short it, once it again confirmes the trend at the small red dashed line. On the day chart we can see another downtrend, which will be confirmed again at the big red dashed line. We can expect strong movements at this level since EURUSD has tested this level twice already (15. August & 31 October).
Trade active
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The chart crossed the last low so I opened a SHORT position with a SL at the last high around 1.13615.
Trade active
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We can see expected movements after crossing the big red dashed line which resembles a lower low on the day chart.
Trade closed manually
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After Some nice waves, EURUSD built a sub-uptrend, which means that we have to close our short position as soon, as the sub-uptrend is confirmed. Booking nice profits here and moving on. Thanks.