In my previous posts on this pair, I presented 2 scenarios:
1. A POSSIBLE Triangle Forming ((I) FULL ANALYSIS: EURUSD: Bat Shows Down. But First...Triangle!)
2. Prices dropping down ((O) FULL ANALYSIS: EURUSD: Getting Set For Yet ANOTHER Big Move!)
In BOTH scenarios, I had prices dropping. It was just a matter of how it was to do it. This is what I had to say in my post: "it is more than likely going to go lower into the G-Zone levels between .618 - .886":
Also in those posts, I mentioned that I and my members were in a SHORT trade on this pair playing that drop. Well, unfortuanately, I closed it TOO EARLY in going with the possible Triangle scenario! I was trying to be too cute in taking some profits and then trying to go SHORT again after what I thought would be a bounce back up off a MAJOR SR Structure. It didn't happen and prices just DROPPED as I thought it would. But since I closed out the trade, I didn't catch the whole drop.
According to my scenario, we still have MORE to go on this drop. In fact, we are only a little more than half way through it. The best play here is to wait for some pull back and then SELL again. That is what I am waiting for. Preferably a pullback into the MAJOR SR Structure that was broken.
MY TRADE PLAN
Since I am out of the SHORT trade I had on before, I have been waiting for prices to make a pullback into that SR Zone before going SHORT again. And I am still waiting.....
Year-to-date Profits: +5,794 pips.
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