Thank you for taking time to place here in the factory. But please be informed of these forum rules.
If you haven't read it yet, you can refer to the link (please see rule #3): https://www.cliqforex.com/trading-sy...ion-trade.html
I could not post this trade earlier as I had been focused on the movement of EUR/USD.
17/05/2006
EUR/USD
Short - 2 Lots - Entry @ 1.2788
Stop Decline @ 1.2815
Exit @ 1.2718 Profit: 70 pips
Signal: A short dip at daily S2 of this dramatic downward movement let me put on board. This is not a sort of trade I take. Nonetheless, it seems that the market has been wanting to reverse for quite a while and the CPI simply gave it the reason. This in turn caused a powerful movement.
Price action today provides a clear view of how to use pivot points as support and resistance. EUR/USD move ceased at daily pivot and S1.
Chart included.
18/05/2006
EUR/USD
Short - 2 Lots - Entry @ 1.2780
Stop Loss @ 1.2802
Signs: Confluence of classic resistance, 50 percent retracement, 200 EMA. Divergence on CCI. Break of retracement trendline.
Update: Close in 1.