Early in the U.S. session the EURUSD surged higher then made a series of lower highs as it set up for a short trade. An entry was taken risking 15 pips for a potential 47 pips to our daily target at 1.1248.
Price looked like it could easily fall to its Asian session low which coincided with our daily target. Price had to make it through one level – a multi-pivot at 1.1268 (not shown) and then on down to our target. The USD strength was returning but price bounced twice unable to close beneath the level. We had a tight profit stop protecting 15 pips and it was hit.
Sometimes a trade looks really good but it doesn’t work out – that’s trading.
The market was a little erratic today as the U.S. – China trade talk headlines were somewhat negative, as they were last Friday.
We will know more tomorrow but any negativity may spook the markets going into the weekend. Be careful!
Good luck with your trading!
