Todays Trade on EURUSD

1
Oct

Good morning Traders. Todays trade was taken on the EURUSD entered on the five minute chart.  The one hour chart porinted a nice fall yesterday and the retracement failed to make any ground this morning following a sideways move overnight.  This failure lead me to beleive that we could be looking for shorts.  On the five minute chart price broke the top of the channes and then as expected broke the bottom of the channel.  The move to the bottom of the channel was strong so I entered a short trade on the retest of the bottom channel trend line. I had to wait a while but price then took its move to the short side giving me my one percent for the day.

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