The Eur/Usd got absolutely hammered today. Wow, with that kind of downside momentum we will not be looking for a major pull back at this time but rather consolidation and then another drop. So if you look at the 1hr chart the resistance area appears to be 1.2900 I will be looking to enter at that area when I get a bearish 1 hr candle close.
So the last trade post never happened because I followed the rules and I did not take the trade. So once again discipline saved me from taking a bad trade.
So this is still trade # 3 for the trading challenge. Do not forget about the strategy for this challenge I have posted here. It is also a good idea to follow me on twitter so that we can communicate regarding trading. Please continue to give me feedback about how you all are doing because that is why I do this and that helps me know if this is working and if I should continue to do this in the future.
1hr Eur/Usd
Aug 12