Changed my bias towards the eurodollar at the end of Friday's close after i got completely stopped out. first technical loss but i went back to the charts to see where i went wrong and i realized that i didn't look at the smaller time-frames. But lesson learnt. So i went back to the drawing board on Sunday and spent quite a few hours analysing. Wrote most of my...
So, EUR/USD broke april support level creating a lower low for the month with a shooting star followed by a bearish engulfing. Im expecting a slight pullback at 1.11445 to around the 1.1170's area before a continuation towards the downside. Pair is currently sitting on the 0.618% retracement also commonly known as the pivot on the retracement.
i've set a few take...
ABCDE wave looks to be completed therefore sold a strong chf which the SNB looks to weaken the currency.
relatively low risk trade as you can see with the stop loss only a small percentage is risked. :)