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12-14-2016 EUR/USD Short Overnight / Appx Mid London

12/14/2016

Trade:Consolidation range and mid lengthened scalp trade, shorting highs

Entries:  Slight scale short Eur/Usd into daily highs with additional orders above highs on expectation of further consolidation into FOMC meeting.  Basically, the same trade setup as 12-13-2016.

Note:  I’d like to pretend that last short entry was skill, but sometimes it’s more fun to be lucky than good.  Last short entry was placed at just below prior day’s spike high.  Entry was: 1.06643 High in price was: 1.06651 – Looks like .8 of a pip difference / that’s actually a little too close, as price can spike and fail to enter the trade.  But it’s cool when it happens.

Target: .618 Fib retracement on m5 / 15 chart of prior day’s move long – forgot to set take profit orders, so manually closed out after checking pre US open.

20/20 Hindsight:  Excellent entries and execution.  Don’t forget to place TP before going to bed.  That’s kinda dumb!

Chart 1: H4 consolidation around the .382 fib / basically the same chart as yesterday.018-12-14-16-h4-eurusd-short-on-fib-and-ma-same-as-yesterday

Chart 2: M5 entries and exit / shown exit was taken manually

019-12-14-16-h5-eurusd-tp

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