Acc Risk: 0.4%
Stop: 1.0563 (22 pips)
Target: 1.0660 (4h50, 75 pips, 3.4 RR)
Mindset: Erm – not enjoying going long the Euro.
Price has been trending down for a while now on the EURUSD and might be bottoming out. I don’t feel great about this trade we look to have cleared the 4h500 nicely and I don’t really see any reason for a move higher. On the daily chart we’ve retraced to the 78.6% fib level. That’s about it. Anyway – we’ve formed a divergence so I’m going in!
And what a nice divergence it is! Lovely and looping. Not the best price I could get, but not terrible.
Target hit – 12 Apr
Trumps at it again, just happened to be on the right side of this! Apparently he did an interview with WSJ saying two things:
- The dollar is over-valued
- He’s after North Korea to stop their nuclear programme
The dollar dropped, Gold rallied, Euro rallied, etc. My target got hit. It’s all gravy. I have to say was not feeling good about this trade so feel lucky to be out of this.
I think I always say that, feel lucky, like I’m totally winging it!
My order was triggered at 1.0633 for 48 pips, 2.1 RR.