Short

EURUSD continuing downtrend

Updated

It looks like the EURUSD broke the support line and is now making its way down. I am going to wait for a rally before selling into it. Keep in mind there is a lot of news coming out tonight and tomorrow (depending on where you are). For those of you wanting to be more aggressive, you can enter at clear signals in the local S/R area. However I would advice strong caution. I'm going to wait and see what happens after the EUR unemployment news tonight. Good luck everyone! Happy new year and safe trading!

Note

EURUSD has now passed the local resistance of 1.04800, I am going to let it run and wait for the news to see if it reaches 1.05220 - 1.05400. If there is clear price action there, I sell into the rally.

Note

For those of you who took the more aggressive play, the EUR is now 1.04300, you would be about 50-60 pips in the money. I chose not to enter as it was not at significant S/R points. Also the news announcement did not induce any big movements. I will sit and watch for another clear entry point on the 4Hr.

Note

EURUSD has broken the local low at 1.03525, looking for a strong local pullback to around 1.04000 and clear price action before shorting.

Trade active

Just opened a short position at: 1.04858
S/L: 1.05010 (-15)

Trade closed: stop reached

Got stopped out at B/E, I moved the S/L a tad too soon and then it ran down to my projected T/P lol!

Trade active

Now in short again at the original target area 1.05358 with -20 pip S/L

Note

Closed half my position at 18 pips in quiet hours trading. Will set S/L to B/E if there is clear indication of downward move.

Trade closed manually

Other 1/2 portion closed at 8pips. EUR has now moved up. Will sit back and let the market tell us what is happening.

SageFXTrading

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