EURUSD short position

Updated
This could be the end of a big pull-back on the weekly chart. On the 4-hour chart the 20 and 50 MAs have just turned to down trend,

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on the Daily chart the price is currently in between the 20 and 50 MAs.

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If price bounces off resistance around 1.11400 (which would be the 20 MA on the Daily chart) then the move down on the 4-hour chart could continue on to the Daily chart, the Weekly down-trend would continue.

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If price bounces this could be a good place to enter a short position, between 1.113 and 1.114, with a stop-loss at around 1.116.

Trade active
Entered at 1.13500

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Trade closed: stop reached
Moved stop loss to 1.11450 when I was +30 pips (at 1:1). Price came back up and took me out for a 10 pip loss. Oh well, on to the next one.

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Chart PatternsTrend Analysis

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