EUR/USD, my short trade!
Based on my view on the current situation and on my EUR/USD analysis over the weekend, let me present my trade. I opened short position near 1.1100 in the morning, protect with SL above the 1.1120 resistance and moved latter the same on the profit teritory, bellow the entry. As you can see, my target is still far away for now, at 1.0922, bellow the daily MA100, which is not easy to reach. Sure, I am monitoring the situation ready to react, but I will stay until the end of the day, maybe more, because the target could be reached in my point of view. For this trade I’ve used a RR of 1:7, but we will see how will ended. Have you traded something here today and how do you see my target?
Update! 15:26 h (GMT). I see that the H4/MA200 is support in this moment, and I have placed first support near that level in my previous daily chart, but I am still holding my short position because of this possible move. Well, that’s my view now. I have lowered my SL more into a positive teritory (step 2) to collect more gain if the pair broke up this channel lower line. Let’s see what next!?