Unfortunately I did get stopped out of my recent short EURUSD trade. Hindsight is 20/20, but clearly I should have waited for a 50% retracement before entering this position. In the chart below, I entered at the black line with my stop at the the red line and my target set at the orange line.
Meanwhile, USDJPY continues to hover at a major confluence level near 120.50 (red line in the chart below). In addition to being a significant support level, this is also where the 200 EMA is. I'm tempted to buy here, but will wait until next week to see if we are still at this level or if situation has changed materially.
Meanwhile, USDJPY continues to hover at a major confluence level near 120.50 (red line in the chart below). In addition to being a significant support level, this is also where the 200 EMA is. I'm tempted to buy here, but will wait until next week to see if we are still at this level or if situation has changed materially.
Stopped Out of EURUSD Position while USDJPY in Tight Range at Key Level
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