Over the last few days, I've noticed price seems to respect this level, and is matching up with a clean up trend trendline. Trade is active at 99.109, open target, hedging if price gets below about 98.5. Staying fairly flexible and open, as I'm hedging and just going with the flow from the 1 hour / 4 hour/ daily and not trying to read too much into it....
Looking at around 100.7 or so for a target, but if it keeps going, I will continue to hold. Target is not set, as I want to see it stopping there before closing, not just pulling back slightly to run some more. I've let a few of those go, I want to try and capture them if it plays through.
Simple works, and I want to watch more pairs, so that way when one gets stuck, like the eurusd all week last week, I can trade something else.
Looking at around 100.7 or so for a target, but if it keeps going, I will continue to hold. Target is not set, as I want to see it stopping there before closing, not just pulling back slightly to run some more. I've let a few of those go, I want to try and capture them if it plays through.
Simple works, and I want to watch more pairs, so that way when one gets stuck, like the eurusd all week last week, I can trade something else.
Trade active
Entry was taken already with market entry just after retail open. Usually this pair takes a few hours to start moving for the day I've noticedTrade closed: stop reached
I tried to give it a chance to rebound but the area it's in just isn't strong enough to push it back up, Hedged at 98.496Note
Hedge sell trget to 97.322, Plus additional buy entry placed at the same price in anticipation of a support bounce back to the middle to close the buys at or near breakevenTrade active
Closing the sell and expecting price to rise back up and retest below the buy area. I'll re hedge if price gets below 97.55, sitting long side currentlyNote
Also going to enter a buy, expecting a retrace to around 98.8, single hedge converted to double hedge stopNote
98.755 is the target for the buys to clear the hedge and I'll make a fresh idea for the next after the clear out
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.