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)
Trade closed: stop reached
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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.