Price in a downtrend. Because FED decision to increase interest rate 75 points I consider the dollar will strengthen making all USD denominated to go down.
Entering short position:
- Price at 0.786 Fib retracement level
- Price at a high volumen zone (VRVP)
- ADX shows no strength on upward movement
- Entry pont at 5.8
- SL 1 ATR of entry point at 5.95
- TP from previous lows at 3.65 and high volumen zone (It might get only to support zone at 4-4.3)
Entering short position:
- Price at 0.786 Fib retracement level
- Price at a high volumen zone (VRVP)
- ADX shows no strength on upward movement
- Entry pont at 5.8
- SL 1 ATR of entry point at 5.95
- TP from previous lows at 3.65 and high volumen zone (It might get only to support zone at 4-4.3)
Trade closed: stop reached:
Price went up and triggered my SL. I still believe it's going down.
Note for the future: Put SL above previos high and use a smaller position size if the risks is greater than management risk plan dictates.
Note for the future: Put SL above previos high and use a smaller position size if the risks is greater than management risk plan dictates.