Here is a nice confluence of a bearish BatShark along with RSI and AO divergence. I have entered short with some targets marked on the chart but will watch price action in each target area to decide whether to take profits, move stops or even reverse position (in the case of the bullish 5-0 pattern).
As per my new strategy I will be moving stops to breakeven after I am up some pips, and look to re-enter higher when price action gives another good signal if I am stopped out.
If you have any comments or feedback on this idea or your own view on the Euro, please feel free to share!
As per my new strategy I will be moving stops to breakeven after I am up some pips, and look to re-enter higher when price action gives another good signal if I am stopped out.
If you have any comments or feedback on this idea or your own view on the Euro, please feel free to share!
I have been in and out of shorts on the Euro, biased short the whole time but taking profit several times and have been able to re-enter higher. These patterns are still valid and my bias is still short, but I closed all positions before the weekend. I will be looking to re-enter next week, mindful of these two potential smaller bullish patterns which could be lead to a bounce (and perhaps a better entry).