Technician
Short

EURUSD: Pulling The Short Trigger!

FX:EURUSD   Euro / U.S. Dollar
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Update: Failed short above my second target, closed second half at break even.
Profit(pips)= +135

Update: Decided to close first half at 1.3763, second half running for full target, stop remains at breakeven
Update: Reached more than 90 percent of first target, accordingly, I moved stop to breakeven.

Speculating on a bearish wave, as European officials rhetoric has elevated recently regarding a higher exchange rate and the possibility of more easing measures(could be U.S. style QE ).

Technically, the price is testing a major long term descending resistance(started from 2008 top), meantime price draws a bearish shooting star candle on the day chart at an ascending resistance level .

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Trading Criteria:
1. Trades are taken in two units
2. First unit would be closed at first target
3. Stop loss is then moved to breakeven
4. Second unit would be closed at second target
5. Note that If 90 percent of first target is reached without triggering entry, trade is cancelled
6. Remember: Losing is a main part of the game ;),
For More Trade Setups and Tutorials: https://theforexchannel.com
Update: Failed short above my second target, closed second half at break even.
Profit(pips)= +135
Reply
Breaking to new lows below 1.3750, are we heading to second target?!
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FaultyKid Technician
Damn, and I was in this trade last week and decided to exit. Guess 'patience' is key!
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Technician FaultyKid
Agree! what is coming will be better... trust me :)
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FaultyKid Technician
What you mean?! :P
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Technician FaultyKid
Never-mind, i am just a bit too confident today ;)
Reply
TP-1 hited.
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Technician Barabaszek
Yeah, lets relax now and leave the second half for the more aggressive target
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Decided to close first half at 1.3763, second half running for full target, stop remains at breakeven
Reply
Update: Reached more than 90 percent of first target, accordingly, I moved stop to breakeven.
Reply
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