Thursday Results:
I entered short at 1.3030 after the price hit the 38.2 retracement level.
The RSI was under 50
As always 3 lots.
1st Lot +55 pips
2nd Lot +100 pips
3rd lot is still open
Friday’s Setup:
The Fib trade was good so I am holding the one lot I have as I believe it will go lower. I believe we will test the 0 level on the Fib Retracement. So if we break that zero level I will enter short at that time.
We are currently in a bear flag so I expect a drop soon.
However, as always, you never enter a trade on what you think will happen. Because we just are not that good. We enter when the market tells us to.
Setup:
3 Lots short at a break of the 1.2840 level.
1st lot limit and stop at 55 pips
2nd lot limit at 100 and stop at 75 pips
3rd lot no limit with a 100 pip stop and a trailing stop of 55 pips
