EUR/USD - Catching a falling knife

I shorted the EUR/USD last week at 1.2929 and closed today at 1.2717. I feel like the bears are going to have to catch their breath sooner than later. So, I’m going to attempt to grab a few pips off a long trade. I put a tight stop in at 1.2640 and I went long at 1.2680. My TP I will leave open for now, but I won’t be too greedy. If I could grab around 50 pips off this I would be happy. Anyone else trying a long trade today?

I forgot to add that we have had two 4 hour candles bottom out at 1.2670 and support from a multi-year rising trend line at 1.2675ish.

I’m shorting the euro still and have been quite successful this week doing so as well. I think it’s safe to assume the bears are still overrunning the market. Tomorrow will tell though. Best of luck!

Best of luck to you. It’s clear that’s a much safer move than trying to guess the bottom.

I’m just starting to understand that concept as well! Until I see a few days of consistent gains in the euro I’m going to short it to hell and then some Lol.

Just closed out with a 23 pip gain.

I try to never do the “what if” in trades especially when I make money off one, but I wish I would have went with my original instinct and held this one a little longer. This trade would be up +96, instead I closed it for a +23 gain. I’ll reevaluate my charts this weekend and look for another opening to get back in.

when I closed out of my euro sell, I made 66 pips. I should have made 80 pips because it did go down and touch 1.26! we both won which is nice. can’t complain there lol