Short again!

FX:EURUSD   Euro Fx/U.S. Dollar
65 0 1
Signal to sell short based on negative reversal patterns on price/RSI & CFG             indicators on 8-hour chart (shaded areas); also, lower time-frame indicators were pushed into overbought territory and have rolled over.

If price is within 20 pips of my stop-loss near the end of the N.Y. session, I'll raise it temporarily just to avoid getting hit by the widening spread.

1st target is at 1.05739; will buy back 1/3 of position in order to (hopefully) lock in partial profit and/or to limit risk.

Will adjust stop-loss as price declines, based on shorter-term indicator cycles and price structure.

Highest probability 2nd target (indicated by tightest negative reversal on 8-hour chart) is at 1.04719; will tighten stop-loss on 1/2 of remaining position if reached, and will continue to trail.

3rd and (possibly) final target is at parity, as calculated and explained in my last post.

Update @ 01:42, May 13: stop-loss on full position moved to 1.06286.
Ideas Scripts Chart
United States
United Kingdom
Home Stock Screener Forex Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Account and Billing Sign Out