SHORT EUR/USD Trading Strategy / Technicals

This is my trading strategy for EUR/USD Short for the next 4 - 6 weeks, I combine a Fibonacci Retracement, a Fibonacci Extension and the Ichimoku Cloud - For good measure I'll add an RSI and MACD indicator as well (to monitor movement of the market at that given time in that time frame)

Trading strategy for the next 4 - 6 weeks:

Based on a 4hr. time frame - We have a solid long red candle on March 07th - I expect some retracement to take place to the 50% fibbo extension @ 1.12049, I'm setting my stop loss 3 pips above the 38.20% fib extenion (1.12366) and my limit @ the 100.00% Fib extension to the 1.10835 price level. After this move I expect some retracement back to the 1.11756 price level (it may go a high as 1.12045 50% extension fibbo level ). I'll jump back in and set a trailing stop (@100 pips) and ride this puppy all the way down to the bottom 161.80 fibbo extension level; my limit will be 1.09303.

Transaction en cours:

Whoops I forgot to include my entry point 1.12000

Transaction en cours:

well I was stopped out at 1.12336 the price moved 4 pips above my stop loss and I got knocked-out at 1.1240 I'll be back in this trade at 1.12000

Transaction en cours:

I’m back in the trade and patiently waiting for the pair to clear 1.12400

Transaction en cours:

Next stop the 50% fibbo expansion point at 1.1204

Commentaire:

If your not in this trade try to get in at 1.12336 grab 30 pips to 1.12045 OR if your brave enough hang in there until we hit the 100% fib at 1.10835!!

Trade fermée: cible de profit atteinte:

Awesome!!! Another successful trade:-)