Sell EUR/USD at 1.4656

I know that the EUR/USD began a downtrend since the NFP news and has had added momentum from the retail sales data that came out last Friday. So I was waiting for a good entry signal in order to short this pair once again. I used several indicators to do this:

1) previously broken support line at 1.4680 (see bold red line in image) was retested Sunday evening and held up as resistance. I would now use that as my S/L.

2) Notice how, after retesting the previous support line and bouncing back off confirming it as resistance, the currency bounced off of the blue MA then sold sharply at the end of the European session. I now wanted to see the price touch the blue line again, which it finally did during the 12 o’clock hour of the New York session. So when the 1:00 candle opened I entered short, setting my S/L above both the bold red resistance line as well as the weekly pivot line (always place your S/L above/below at least two resistance/support indicators). The currency consolidated until it finally broke during the European session. I then locked in my profit at 1.4548 and the trade closed for a profit of 108 pips!

Now this was not a strictly by the books trade, I used some of my own experience in the market to enter early on and gain more profit, but you would also notice that the MACD crossed over and the ADX showed sell 12 hours later (or 12 candle sticks later) which even if you got in then you would have been able to profit over 100 pips anyway. I go over all of these indicators and strategies in my lessons and videos categories.