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

12/19/2016

Trade: Pre-London short into resistance, fib, ma, and prior resistance confluence

Entries: 1 just below prior highs at candle pattern.  2: Just above prior highs and slight frontrun of .382 Fib 2 additional entries each 25 ish pips higher

Target: No reason to close at current TP.  Trade was closed out manually.  Should have looked for support on lower trendline or .5 – .618 fib ret. If I was trading actively, would have looked to short bounces on the trendline into fib resistance of overnight move.

Pips appx: Entry 1: +14  Entry 2: +32

20/20 hindsight: There was no reason to close there except I woke up tired and didn’t analyze the charts.  Price action indicated further downside potential.

Chart 1: H1 Short entry on fib of prior short move.

020 - 12-19-16 h1 EURUSD short entry on fibs.jpg

Chart 2: M5 chart showing entries and TP (and no reason for the TP at that level)

020 - 12-19-16 m5 EURUSD short entry tp.jpg

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