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I am going short to 1.1219 with a stop at 1.1283.
Euro / U.S. Dollar
Short
I am going short to 1.1219 with a stop at 1.1283.
By michael6malone
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Updated
Sep 15, 2016
4
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Sep 15, 2016
2016Sep15 I am going short to 1.1219 with a stop at 1.1283.
Large upper candle wicks are generally followed by a strong retracement.
The retracement often reaches the 138.20% fib level.
I am remaining conservative and only going to the 100% level since the US sales data that just came out was not very positive for the dollar.
Sep 15, 2016
Comment
I generally trade for relatively small gains so I always zero out my stops once I am ahead by 10 pips. The trade is then re-evaluated.
Sep 16, 2016
Comment
Target reached.
michael6malone
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