EURUSD: Profits Booked on Short Position
Forex pairs in this Article »
EUR/USD
Strategy: Pending Short
Realized Profit / Loss: +389 pips
We initially sold EURUSD at 1.3121 and added to the position at 1.3026 (for an average entry at 1.3073). The pair sold off after forming a bearish Harami candlestick pattern and subsequently revised the stop-loss and target downward to lock in some gains. Prices have now invalidated a bearish Evening Star candlestick pattern identified earlier and triggered our stop-loss with a daily close above 1.2674. We will book profits on the position here and move to the sidelines until another selling opportunity presents itself.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
To contact Ilya, e-mail ispivak@dailyfx.com. Follow Ilya on Twitter at @IlyaSpivak
To be added to Ilya's e-mail distribution list, send a note with subject line "Distribution List" to ispivak@dailyfx.com
Realized Profit / Loss: +389 pips
We initially sold EURUSD at 1.3121 and added to the position at 1.3026 (for an average entry at 1.3073). The pair sold off after forming a bearish Harami candlestick pattern and subsequently revised the stop-loss and target downward to lock in some gains. Prices have now invalidated a bearish Evening Star candlestick pattern identified earlier and triggered our stop-loss with a daily close above 1.2674. We will book profits on the position here and move to the sidelines until another selling opportunity presents itself.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
To contact Ilya, e-mail ispivak@dailyfx.com. Follow Ilya on Twitter at @IlyaSpivak
To be added to Ilya's e-mail distribution list, send a note with subject line "Distribution List" to ispivak@dailyfx.com
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