EUR USD - Looking for a short
Updated
EUR USD is crossing the top down trend line and it looks to be a good area to look to put on a short if the price action looks good. Waiting for more signs of a rejection of the trend resistance line. RSI doesn't look extremely over bought so alittle hesitant on the entry still. I'll wait for some price action to confirm the entry, if we see a bearish Pin candle then we may see the market fall back into the triangle. The current USD strength is a another reason i want to be shorting this pair. We do have the ECB press conference in 6 hours so proceed with caution.
Note
After the 4hr candle closed as a moderate Bearish pin candle i took a short position a few mins into the open of the next candle. Short at 1.18121 Took off half the position at profit target 1 before the ECB press conference and moved my stop down for the 2nd 1/2 of the position down to the entry price.
Will be watching closely over the ECB
Note
ECB didn't cause any large moves in the EUR USD so i have moved my stop down 12 pips below my entry. Going to let the last 1/2 of the trade run.
Trade closed: target reached
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