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Hello,
There is really not much to say about the last two European sessions. Both very choppy and had some intraday reversals. Not the best conditions to get some pips as trend follower. Monday’s session ended -2 pips. I was in general looking for long USD since I think EUR/USD has still some room left to the downside before going higher again and GBP/USD also need a bit of a breather here. Today I went short in EUR/USD at 1.2901 with a relatively wide stop at 1.2945 and a 1.2850 target. I was a bit impatient with the entry. The initial plan was to wait for a retrace back to the 30 min 20 EMA and then go short. The retrace only brought EUR/USD to the 10 min 20 EMA and the price fell back. I did not want to miss the trade and got in with a barely acceptable entry level. We saw a lot of up and down during the session in a tight range and I put the SL down to 1.2927.At the end of the live room session I was down 1 pip and closed the trade. I still think 1.2820 is a strong possibility here in the next hours. We will see.
Regards,
Marco
There is really not much to say about the last two European sessions. Both very choppy and had some intraday reversals. Not the best conditions to get some pips as trend follower. Monday’s session ended -2 pips. I was in general looking for long USD since I think EUR/USD has still some room left to the downside before going higher again and GBP/USD also need a bit of a breather here. Today I went short in EUR/USD at 1.2901 with a relatively wide stop at 1.2945 and a 1.2850 target. I was a bit impatient with the entry. The initial plan was to wait for a retrace back to the 30 min 20 EMA and then go short. The retrace only brought EUR/USD to the 10 min 20 EMA and the price fell back. I did not want to miss the trade and got in with a barely acceptable entry level. We saw a lot of up and down during the session in a tight range and I put the SL down to 1.2927.At the end of the live room session I was down 1 pip and closed the trade. I still think 1.2820 is a strong possibility here in the next hours. We will see.
Regards,
Marco