With a retracement back to the 61.8% fib, I'm hoping
EURUSD
will bounce up to somewhere around the 1.1350 area. This would line up with the previous years test of resistance (Head and Shoulders) which I've highlighted with Yellow circles and as you can see we have no broken that level since then.
EURUSD
will bounce up to somewhere around the 1.1350 area. This would line up with the previous years test of resistance (Head and Shoulders) which I've highlighted with Yellow circles and as you can see we have no broken that level since then.
Trade active:
Entered @ 1.12275
Target @ 1.13500
Stop @ 1.11639
Target @ 1.13500
Stop @ 1.11639
Comment:
Possible test of the MAs, if it does test either the 8 or 21 MA, I will expect a bullish move off of that. I don't expect to see any real movement until the London open.
Comment:
Comment:
As I suspected, we are getting a pull back to the MAs. I expect some further bearish movement before returning bullish.
Stops and Targets still standing.
Stops and Targets still standing.
Comment:
My theory was correct, we had a bearish move down to the 21day MA before returning to the original bullish trend. Patience is key for me.
Comment:
Still long on this one. Adjusted stop to 1.12010.
Comment:
Adjusted my stop back to what it was in the start due to various news events. Almost got stopped out but I believe that this will continue it's previous bullish trend.
Trade closed manually:
Closing out rather than letting it go all the way to the stop.