EU Short below Cloud Resistance and Weekly Pivot

3 set 2020

Entry: 1.1831
SL: 1.1866
PT: 1.1800 or lower

No entry if the Sell Stop price of 1.1831 is not met. We need the bearish momentum to continue in this current 4 hr candle before entering the trade. This is designed as a small momentum scalp into the Weekly S1 and S2 levels below. Let's see what happens. I will provide updates on each 4 hr candle.

4 set 2020

Trade chiuso: obiettivo raggiunto

Okay, sorry about the late update ladies and gents. Out here in Hawaii the European and USA sessions open when I am sleeping. Therefore most of my trades are entered during that time. Yes, I wake up to profits (and the occasional loss). This trade was actually triggered on the 23:00 HST (05:00 am EST) candle. It declined below the low of our original signal candle at 07:00 HST (13:00 EST). It reached the target low of the Weekly S1 fib level at 1.8000. On a numerical basis that was only 31 pips but since I trade in multiples of standard lots (100,000 units) each lot amounted to a good quickie scalp of $310 for each standard lot. Not bad for a quickie. Of course the volatility and extra activity around the NFP report helped. The EU may go further down (or not) from here. Personally I don't care. This was designed as a easy quick scalp to close out the week. It follows all my principles of following the trend established by the Ichimoku (down) and playing trades in between the Weekly Pivot levels. By the way I use the Fibonacci based pivot levels in the Pivot indicator provided by TV in the built in list. Good stuff. If you have any questions on my approach or want to learn more let me know in the comments. Aloha everyone.