So here’s a brief recap of my EURUSD operations for the last week or so. Those who followed along towards the middle of the month will remember a EURUSD short that I got in, and was subsequently pretty confident about, coming off the back of two long target hits that I felt pretty lucky with.
They’ll also remember my confidence was misplaced, as pretty much as soon as I got in the short position price spiked against me, and took out my stop loss.
Unexpected, but coming off the back of two equally unexpected wins I couldn’t complain. I did, a little, but privately.
Anyway, a few days later, on November 15, price once again served up a bearish pin, and as per the rules I seem to live by these days, I got in short towards a predefined target of 1.06. Not quite one to two on the risk side of things, but a nice even target and one I felt was reasonable given my overarching bias when it comes to these two currencies.
The trade took a few days to mature through completion, but we got there, and ducked out for a nice 123 pip take. Another trade, another win in this pair. Three for four on the last few weeks, and looking good.
I still hold a bearish fundamental EURUSD bias, primarily driven by my incredibly bullish dollar outlook, but as we know all too well price action doesn’t seem to care. When it comes to me and price action, I’m happy do the following, as opposed to the other way around.