Price Action Trading July second week 2012

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Failed  - 

• Early entry -- Traded on Bullish engulfing pattern
• Knowing strong down trend on Monthly, Weekly & daily Traded against it. 

What it looks like after 

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Failed  - 

• Early entry -- Traded on Bullish engulfing pattern 
• Knowing strong down trend on Monthly, Weekly & daily Traded against it. Assumption was it will retrace up to 50% Fibonacci

•   What it looks like after  

Failed

• Also the reverse trade to sell at 97.44 and stop loss of 
• Set stop loss is Wrong.

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12.07.10 12:33 buy 4.00 eurusd 1.2332 1.22561.238820 12.07.10 17:151.22560.000.000.00 -304.00

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Failed - 

                                                                                                                                                            Expected to retrace the bullish pattern about 38% to 50% but did not happen

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