New Trade

I just shorted a small (1 lot) position of the Euro/US pair (very overbought), using my favorite trading method...simple historical support and resistance points. I guess this could come under the guise of Fibonacci, as I think support and resistance points are developed from Fibonacci. We are at a R1 resistance and I will average it if we go to R2 (1.3322)

You can only do this when you are sure of the trend! (Clicking on the chart gives you a clearer view):