Strategy: Short at 1.3315, Targeting 1.2969
Weekly Profit / Loss: +40 pips
Total Profit / Loss: +40 pips
We sold EURUSD earlier this week after prices put in a bearish Gravestone Doji candlestick below resistance at 1.3471, the 38.2% Fibonacci retracement of the 11/4-11/30 downswing. The pair has dropped to support at 1.3161, the 14.6% retracement level. We will remain short, looking for a break through near-term support to expose our initial target at 1.2969. A stop-loss will be activated on a daily close above 1.3499, the Doji wick high.
To discuss these strategies with other traders, please visit the Candlestick Forum
To receive future articles by email, please contact Ilya at firstname.lastname@example.org