Day 8 - Spoiled for choice EURO Shorting Opportunity
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Since we have an inside day breakout yesterday and shortly after it reached the demand area price started to surge upward as of Asia Market it's still going up - Which is a good thing. We have quite a few choices here to make to short EURO. But worry not as we shall let the market to decide which entry the market gives us. Obviously, it would be the higher the better. One should consider to have a partial position entered at the price area 1.165 ( to be on the safe side ) or alternatively wait for a reversal signal for entry.
Personally i would have all stated entries filled with sell limits, should there be any given opportunity it shall hit it and start running. I wouldn't worry too much about the market not stopping down since i've got my risk and money management all calculated before i fill my sell limits. But that doesn't mean we shouldn't take note of the momentum of the "temporary" uptrend. Ideally it would be great if the momentum starts to slow down as we get into 1.166 as there's the 1.618 Fibo Extension of the nearest previous downfall, and ofcourse we have a supply zone around that area.
About SL it's a little bit tricky over here, Since the purple entries' SL are very close to the Entry of the Green ones. You can either have all your SL set at the Top black dotted lines, or you can decide to have your order SL at the lower dotted line , and reenter once it hit Green line. ( I am a little bit lazy going on and off the chart and the editing area so bear with me going on about the colours. ) I'll leave this bit to you lots since we all have different mindset of how we should keep or lose our money.
Right that's the plan, as my mentor always said " Plan your trade and Trade your Plan." . We've got one now, and we shall sit and have a cup of tea wait for the price to reach our target.
Good luck chaps.
Personally i would have all stated entries filled with sell limits, should there be any given opportunity it shall hit it and start running. I wouldn't worry too much about the market not stopping down since i've got my risk and money management all calculated before i fill my sell limits. But that doesn't mean we shouldn't take note of the momentum of the "temporary" uptrend. Ideally it would be great if the momentum starts to slow down as we get into 1.166 as there's the 1.618 Fibo Extension of the nearest previous downfall, and ofcourse we have a supply zone around that area.
About SL it's a little bit tricky over here, Since the purple entries' SL are very close to the Entry of the Green ones. You can either have all your SL set at the Top black dotted lines, or you can decide to have your order SL at the lower dotted line , and reenter once it hit Green line. ( I am a little bit lazy going on and off the chart and the editing area so bear with me going on about the colours. ) I'll leave this bit to you lots since we all have different mindset of how we should keep or lose our money.
Right that's the plan, as my mentor always said " Plan your trade and Trade your Plan." . We've got one now, and we shall sit and have a cup of tea wait for the price to reach our target.
Good luck chaps.
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