A quick overnight short using Bollinger Band
as a support, I took a quick overnight short position on the EUR/USD
0.02% -0.03% . The idea for the trade was to look for a bearish candlestick
pattern forming at the top band after a reasonably large spike. This happened at 6/6:15 UTC+1 with a Doji
forming at the top of the band, in addition to this the Stochastic
was indicating that the pair was overbought. With this in mind, I entered the trade with a fairly wide stop to avoid any spiking from intraday traders closing position (Although I wasn't expecting that as it was a Thursday not Friday). As the volume
tailed off overnight, although there was one spike that found resistance at the top band not testing my SL before a decline which hit my take TP for just over a 3% gain.