Trading short continuation. Currently price is at moderate support zone. Needs to push through to confirm continuation. Could potentially rebound to resistance zone higher than my SL. As long as that resistance zone holds, I am still playing the short trade. That would be a good short entry if this support zone holds.
Short @ 111.50; SL@ 111.85 TP@110.9
1W: 1D: 4H:
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Broke through support zone and is currently at my first target point (not a take profit). Hourly candle almost complete on chart below. This target point is a weak support area and a pre-determined point where trade adjustments could be considered. With in next 15 minutes, I most likely will lower my SL, but not to break even. At this level, the new SL would be around 111.65.
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I rarely have the opportunity to actively manage my trades, thus maybe I am over managing this now that I actually have a little time to keep tabs.
Took profits on a portion of my trade @ 111.39. 30+ pip gain. Adjusted SL to 111.75