Overnight EURUSD took a dive after breaking out of our consolidation triangle. I plan to take this trade down to at least the 1.1120 range where we might see a bounce or some resistance.
Currently we are over extended on the 1 and 4 hr charts and likely we will get a breakout pullback back to the 1.1190 levels for a retest before continuing down. If we consolidated sideways that would be great too.
Typically I adjust my stop along the way down at the previous 4 hr candle but since there has been no clear pullback for clear reversal levels I am just adjusting my stop to break even. Once we have a solid pullback and signs of continuation I will adjust to that level.