Shorting the EUR/USD

Feb 20, 2020

I have shorted this pair earlier this week due to the recent breakout around 1.08274 level. I know that most of the signs lead to a very exhausted and oversold currency but I don't see anything significant that this reverses soon. I'm targeting around 80 pips from the point of breakout or will close it manually if I see a major bullish engulfing candle at the current consolidation.

For now, I'll just watch and see where this goes.

Feb 21, 2020

Trade closed manually

I have decided to close the trade with a minimal loss (about 11 pips) as a significant engulfing candle appeared in the 12H time frame. Now everything seems to point to a reversal and I'll be making a separate post about that.