ollyt33

EURUSD Bull or Bear?

FX:EURUSD   Euro / U.S. Dollar
Just had a nice short position on this pair - Gartley completion with a double top and RSI divergence at an area of daily resistance. Came close to hitting second targets at the 61.8, hopefully we will hit this on the way down to the Cypher completion. Might be looking into entering a long position here based on the strength of the previous pump upwards. Even though that daily resistance level seems to be holding well, based on the results of my back-testing, support/resistance often fails on the third attempt so we shall see. Profit taking at the 32.8, 61.8 Cypher CD, daily resistance, or let it run higher?

Or I'm completely wrong and we start looking for shorting opportunities :)
Comment: Gartley 2nd targets hit
Comment: Was wrong :) but luckily didn't enter a long position on this pair because of the correlating trade we had on the GBPUSD.
Comment: Would have hit .382 of Cypher, to be later stopped out at break even
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