What went wrong with my Short EUR/USD order on Friday?
Strange to anyone, but probably nothing except that the timing of selling the pair was not the right one and therefore a stop-loss was too low bearing in mind normal risk reward ratio. However, I should have sold it when there was the highest volume in the market and that was when US NFP was released. I was stopped out due to the tight stop-loss, EUR/USD plummeted immediately afterwards, but the pair was being defended at the lows, probably by big names like central banks and so on. Now it needs to be very careful as EUR/USD has approached 9-year lows 2-times already (on Thursday and Friday) and closed Friday`s session at the daily highs as well. I consider 2 options to play on Monday and Tuesday but will also listen to any new news, rumour or Draghi`s comments as the Euro might start retracing already next week just before 2 major events of the month come out (ECB meeting, Greek Parliamentary Election)...
Strange to anyone, but probably nothing except that the timing of selling the pair was not the right one and therefore a stop-loss was too low bearing in mind normal risk reward ratio. However, I should have sold it when there was the highest volume in the market and that was when US NFP was released. I was stopped out due to the tight stop-loss, EUR/USD plummeted immediately afterwards, but the pair was being defended at the lows, probably by big names like central banks and so on. Now it needs to be very careful as EUR/USD has approached 9-year lows 2-times already (on Thursday and Friday) and closed Friday`s session at the daily highs as well. I consider 2 options to play on Monday and Tuesday but will also listen to any new news, rumour or Draghi`s comments as the Euro might start retracing already next week just before 2 major events of the month come out (ECB meeting, Greek Parliamentary Election)...
