UPDATE 160705tu 0830BST EURUSD London Open Strategic and Tactical Trade Plan
The original trade plan is posted here:
As in the H1 SWING STRATEGY published half an hour ago, bulls have bought at 1.1120, which is the 61.8 Fib ret. of the range of the previous day. I didn’t enter since I am a bear and also I already have a short position open and losing.
By the way the swing strategy fullfilled itself in just half an hour. Price went from the 61.8 Fib ret. of previous day’s range to the predicted 121.4-138.2 ext.
After hitting the Fib extension target confluent with DM4, price reacted strongly.
It also could be considered to have re-tested the channel from below, so now I expect it to fall. Is it become I have a losing short position open and don’t want to accept the loss?