Charts - Wednesday 4th March

by Liam 19:01 0 comments EURUSD

Today was a frustrating one. I opened a sell after the morning drive down on EU. The entry ticked all the boxes so it was a good trade to take in my books.

EURUSD

1. Starting volume bar after the push down this morning. I tried to get a short for this initial push down in the morning but the P&F chart didn't produce the signals I like to take. Entered the trade at the green circle.

2. Stop was just above here.

It pushed down slowly after this point and I was quietly confident that it would reach 1:1 and push on to the target. I guess it did eventually, but not before stopping me out.

3. Very nearly got stopped here as it pushed back up. Once it pushed away from this point, ADP NFP was about 30mins away and I should've got out before this point. I decided not to.

4. The initial reaction to the news pushed down this far and didn't quite make it to 1:1.

5. Stopped as this column rose above 1 and 3. The news bar had good volume on it so I was looking for further shorts but I didn't get a signal and down it went.

-1.12% for this trade.

Cheers,

Liam