My loss of 102.9 pips is caused by the news that triggered my long entry. The price spiked upward because of this:
Asian stocks down after Central Bank of China refrained from adding funds to the market pushing money market rates higher (Via Bloomberg)
23 Oct 05:07:23 AM GMT
Now, I positioned a short entry below the rising trend line to have a strong confirmation that the bears will take over.
Stochastic lines are showing that the bearish trend just started by getting out of the overbought area.
MACD's histogram is showing a weakness on buying volume and the MACD line is about to crossover the signal line.
RSI line is about to cross the 50 level which will be a good indicator that we are now in the bearish trend.
My initial target is above the 0.9220 price.
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