Speecy EURUSD short into overbought conditions.
Updated
The recent bout of USD weakness has sent the Euro parabolic against the greenback.
Today we saw the thirds touch at 1.1910-1.1920 area and it feels like the market may be starting to tire at these heady levels.
I am looking at a short trade here around 1.1840 with a view to covering on a pullback into the 1.1600 area on a mean reversion trade.
Stops above 1.1920, as this will negate my theory.
Happy hunting
patreon.com/ellevationtrading?fan_landing=true
Today we saw the thirds touch at 1.1910-1.1920 area and it feels like the market may be starting to tire at these heady levels.
I am looking at a short trade here around 1.1840 with a view to covering on a pullback into the 1.1600 area on a mean reversion trade.
Stops above 1.1920, as this will negate my theory.
Happy hunting
patreon.com/ellevationtrading?fan_landing=true
Trade closed manually
Stepping out of this trade at Break-Even.Although the market quickly move 120 ticks in favour, it never followed through to my suggested target.
Position closed at 1.1835
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