Amazing trading activity today. I got out of my short on EURUSD with 2R profit as ECB lowered interest rates to be even more negative. Absolute madness if you ask me, but I will trade it happily, while I buy physical could. Anyway, right after I was out of the trade EURUSD rallied higher forming a huge engulfing candle. I will be looking to trade this countertrend entering on the 50% retrace of the candle. Fundamentally lower interest rates should mean downward pressure on the euro, but then again, it is total madness. I trade it as I see it. The fundamentals may play out over a longer period.
Date Pair Direction Trade Trend Level Signal Entry 2019-09-12 EURUSD Long Counter Trend Down Static Engulfing retrace