EURUSD, signs of downtrend?

15 août 2017

EURUSD 4hr price action showing signs of downtrend. However I would prefer to short on retracement since there is a long wicked candle on the left. I remembered clearly last time such candles often warn us that the market may slightly move upwards and it is risky to short on breakout or at market price.

Hence I would be preparing to short at 1.178, just to give myself a good risk to reward ratio & most importantly for the market to fluctuate without hitting my stops prematurely. Of cos there is a possibility that EURUSD may not trigger my short 1.178 and I will miss this trend all together. This is an opportunity cost i am willing to pay for a better risk to reward ratio.

First target for my downtrend will be 1.1721 while second target at 1.16491. Will trail my stops if prices trading near first target.

This is not a buy/sell call, do double confirm with your trading plans. Happy Trading Everyone =)

16 août 2017

Transaction en cours

market did not hit my short entry at 1.178. Instead i executed a short at 1.1733 with cut loss at 1.1753.

16 août 2017

Note

with 1:2 risk reward target at 1.1693