Short

EU .618 retracement

Updated

Eu recently retraced to t he .618. I missed that trade but I still want to catch pips on the down move. Im shorting from the bottom side of the .236 retracement. 1st tp set at previous support, and second tp set near the 1.27.2 extension. If market goes above .618 trade is no good anymore.

Trade active

I shorted the pair at .618 retracement 1.10112

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Sorry I meant that I shorted from the 0.50 retracement on a smaller time frame.

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Market consolidating near entry

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Currently testing .382 retracement. Added 1 position here.

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If the 382 doesn't hold then its long to the 0.50 or 618, hopefully we see a rollover from here though.

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Very Risky Trade. Not looking good.

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Turning into a lesson on waiting for last possible entry.

Trade closed: stop reached

This stacked trade, wiped out the majority of my profit from the day. :(

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Don't stack positions.

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Please add a comment.. Positive feedback and constructive criticism are important to authors ant the community.

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Although I was stopped out this trade had potential. I placed my stops improperly as well.

MikePips

Related publications

EU .618 retracement

by MikePips

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