17 Mar, Eur/Usd - Riding the Trend

Didn't really see smooth trend among other pairs other than the euro against the dollar. A smooth downtrend after making a day high of 1.3817. Joined in the ride after candle closes, but price didnt give in as easily as the way i put it. Much struggle between buyers and sellers throughout.

Session: London, New York crossover.
Duration: 1 hour 30 minutes.
Timeframe: 15M.
Technical: Fibonacci.
Fundamental: Nil.
Strategy: Sold on downtrend after slight retracement. S/L placed at 50% fibo, no T/P set. Monitoring the price closely for manual cashing in.



Entry.



Well, no more bear candle right after i short, sometimes price can so cruel. I did two average-in losers that picked up +5 each.



After which, price continue to make its way down to a day-low, that serves the fundamental rule of fibonacci retracement level imperfectly, in my favour.

+23 pips.

Black