EURUSD short 15min chart, duration 3 days or less.

27 Nov 2014

EURUSD bounced, but the long term trend is down, check the hourly chart or the 4 hour chart. So that means these are good shorting opportunities... however, we are in a range, so our target, or at least our partials target has to be reasonable... for this reason the target is not new lows, that would not be reasonable... If we traded like that over last 4 days, we would have had the market bouncing back at us and never taking profit. So we will take that fat tail as our target. Lets say 1.2411 area... stop is above the high here...