Euro / Japanese YenShort
Looking for a SHORT entry on Monday at the open
Updated
We traded succesfully SHORT last week (see 17th idea) and got out quickly in profit with a 1:1 risk/reward ratio based on the fact that the EURO has been in a 2 years bear market vs. the YEN.
After that trade, the EURO went up nicely to retest resistance.
Based on last week 2 years bear market I think we are going to retest below the support of the short term bullish retracement trend.
I think the young traders are not paying attention to the strenght of the bear market and can be cought in a trap here. And being a contrarian I see an opportunity for a SHORT.
I'm going to monitor of the 4H no monday at the open to see if I can get a valid SHORT entry.
After that trade, the EURO went up nicely to retest resistance.
Based on last week 2 years bear market I think we are going to retest below the support of the short term bullish retracement trend.
I think the young traders are not paying attention to the strenght of the bear market and can be cought in a trap here. And being a contrarian I see an opportunity for a SHORT.
I'm going to monitor of the 4H no monday at the open to see if I can get a valid SHORT entry.
Trade closed: target reached
Closed the SHORT for a nice buck here. Thank you very much. I'm out and waiting for a break of the triangle pattern p or down, I do not care as long as I make money. Wherever it will break it will be explosive
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