Good evening guys, hope you are all well!
Firstly if you have been following me these last few days you will see I uploaded a chart on GBPaud - it was starting to look good and I managed to get out the trade at a BE (Breakeven) as I wasn't seeing the expected movement I wanted from the pair so stops were put to break even and the pair stopped out.
Never the less we have taken a nice trade on GU today and have a small position currently running in a sell which I may also upload!
Anyway, EURCHF It is hard to show exactly why as again this idea has come from the higher time frames scaling in so basically on the 4hr I have found a level I am happy with to run my fib from low to high to establish some positions and then we have dropped on to the hourly timeframe and this gives us a nice picture. We can see that this 61.80% level has a good zone surrounding it which I have marked out. As it is is 21:31 UK time I'm not happy opening this position through the Asia session so I will wait until the London session and see where price is sitting and I'm hoping we will see a small pull down allowing to get a lower entry orrrrrr a run up in the Asia session giving us indication price will continue rising and then wait for a small retracement back to the 50% like I have set out and then enter my longs from that. Nice RR of just under 4% making this a good trade for us to enter.
Any questions be sure to drop a comment!
Firstly if you have been following me these last few days you will see I uploaded a chart on GBPaud - it was starting to look good and I managed to get out the trade at a BE (Breakeven) as I wasn't seeing the expected movement I wanted from the pair so stops were put to break even and the pair stopped out.
Never the less we have taken a nice trade on GU today and have a small position currently running in a sell which I may also upload!
Anyway, EURCHF It is hard to show exactly why as again this idea has come from the higher time frames scaling in so basically on the 4hr I have found a level I am happy with to run my fib from low to high to establish some positions and then we have dropped on to the hourly timeframe and this gives us a nice picture. We can see that this 61.80% level has a good zone surrounding it which I have marked out. As it is is 21:31 UK time I'm not happy opening this position through the Asia session so I will wait until the London session and see where price is sitting and I'm hoping we will see a small pull down allowing to get a lower entry orrrrrr a run up in the Asia session giving us indication price will continue rising and then wait for a small retracement back to the 50% like I have set out and then enter my longs from that. Nice RR of just under 4% making this a good trade for us to enter.
Any questions be sure to drop a comment!
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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.
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.