RESULT ON MAY 21th (CLICK ON THE CHART TO ENLARGE IT)WINNER
Even though I was expecting a short-term bearish correction, this is a winner strategy due to the following:
* Yesterday I stated that Bulls were in control, which happened today;
* Enter LONG at break of 1.3830/50.
Today´s high is 1.3923, which accounts for 93 pips from my entry point of break of 1.3830.
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INITIAL POST ON MAY 20th
(CLICK ON THE CHART TO ENLARGE IT)Bulls are in control: prices broke up the Upper Trendline of a Symmetrical Triangle on May 09th, hit resistance at 1.3725 price area on May 12th and 13th, did a nice throwback to a former resistance that became support at 1.3425 price area on May 18th just to broke today, May 20th, the 1.3725 resistance. All these moves are highly in favour of an even stronger Bullish move.
But, today prices hit a very important resistance level at 1.3830/50.
I do believe that the EUR is Bullish, but not without a bearish correction that might happen tomorrow May 21th. So my points are:
* SHORT break down 1.3750 with STOP at 1.3790 price area and LIMIT 1.3665.
Add one lot at break of Central Pivot at 1.3730 with tight stop and same LIMIT 1.3665
* LONG at 1.3660 with STOP at 1.3625 and set a Trailing Stop of 80 pips (difference between entry point and yesterday´s low at 1.3580).
Add one lot at break of 1.3830/50.
