Another attempt at shorting EUR/USD. The market ran up on some volume two days ago in the evening, after a day of generally rising thrust. It then ran up again the following morning on low volume, before failing to do very much for the rest of the day, with directionless thrust. Now volume is low and when there is any volume the market is tending to fall. I think the up-thrust has fallen out and the market is now having to fall to find volume. This is confirmed by EUR/JPY and EUR/GBP where thrust was downward on the last trading day, although the market failed to break downwards. Neither cross is finding much volume at current levels.
I have entered with a stop above Friday afternoon’s highs — the earlier highs were on low volume and if this was a re-test of the breakout level then I wouldn’t expect the market to get back there.
I have done the charts in a new way to make them quicker to produce (although more untidy).