Fundamentals: Please see my previous posts regarding my quarterly target for EURUSD.
Comments: My trailing stop was hit. Tonight I went long. Got some pips and out. Now, waiting to short.
Technicals:
Reasons to wait for a short: (1) downtrend on the 8hr to daily chart. (2) Too many retail traders buying (3) the Banks want to sell (4) Dollar index is only has a minor retracement on the 8hr (5) Bearish trendline (6) Price is testing a 1.0564 (38.2% retracement area, but I would love to short higher at 1.0607. (7) The bullish push up is not as strong as before so far.
Needs: (1) Waiting for a trigger bar or bars
Entry Watch Zone around 1.0607
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EURUSD acting funny not in my favor. I closed it!!!