Short

EURUSD Resistance and a Weekly Order Block

Updated

What I'm thinking here is that the Previous Highs and Lows along with the OTE fib, and the Weekly Order Block above give me an entry to get short. I think this week we take stab at the gap below.

Trade closed manually

I took 80% of the trade off at +12. Stopped out at +1 on the rest.

I noticed that the old high at 1.0910 was a 15m breaker that was ready to hold.

At the time of this comment, price was already back to my entry point.

Note

My rules dictate that after I take the first chunk of my position off of the board, I move my stop to BE+1. Today was an example that if I hadn't, the trade would have been more profitable. What variables went into this decision?

I know that this rule of my system is all about avoiding unnecessary risks. I would hate to turn a winner into a loser. After all, I am willing to accept the or I am willing to let go of the trade. I wasn't willing to take the risk. So my rules let go of the trade for me.

Note

** I am willing to accept the TRADE or I am willing to...

Trade active

Price approached this level again. I took the trade a 2nd time and wasn't too excited about it. Took 50% off at +10 and moved my stop to BE + 1. Maybe she runs.

Trade closed manually

Took profit on on 75% of my position. Stopped out at +1 on the rest.

Trade active

Re-entered this trade at the Weekly order block. Already took 50% off at +20. Stop to BE+1. The rest is a free ride.

Note

So I've been watching this intermittently all day now. At the time of this update, the market is at the 1.0883 low. I'm containing any feelings of overconfidence (first word that popped into my mind). Feeling a touch anxious. I'm also really tired. I have been going to sleep at midnight the last couple of nights and waking up a lot. Need to get to bed earlier.

I have had a run of trailers get stopped out at BE lately. So I think I might be harping on this portion of my trailer. I think I should take another 25% off.

Note

Just took another 25% off at +50. Stop still at BE+1

MannyGarcia

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