EURUSD - Short opportunity at weekly resistance
EURUSD Short trade
Reasons for the trade:
- Trend is obviously down
- Pushing into weekly pivot 1.2883
- Pushing into 100sma 1H channel high
- Pushing outside of a well defined descending channel
- At 38.2% retracement of the last swing from 1.2994-1.2815 at 1.28835
Entry: 1.2883
Target1: 1.2820
Target 2 1.2760
Stop: 1.2930+
Reasons for the trade:
- Trend is obviously down
- Pushing into weekly pivot 1.2883
- Pushing into 100sma 1H channel high
- Pushing outside of a well defined descending channel
- At 38.2% retracement of the last swing from 1.2994-1.2815 at 1.28835
Entry: 1.2883
Target1: 1.2820
Target 2 1.2760
Stop: 1.2930+
Trading success is not going to be entering winning trades, but how you exit your losing trades.