EURUSD 15min LONG preparation
Updated
- Strategy preconditions
EU at 15min timeframe, the market needs to first push down a bit to grab some liquidity, then break up a local level at 1.11286 to form an upward Break of Structure(BOS) in order to continue pushing up. The best way to entry is that after the upward BOS has happened, We need to see an LTF downward pullback, and then LONG at some LTF support entry point.
The TP can either be set at a conversation level at 1.11743, which is a potential 4H resistance, or you can manually exit before FOMC news release. - Cautions
If the current market does NOT push down to any of the liquidity levels I've marked, instead, it directly breaks up the local level at 1.11286, we will then abandon this strategy, because it has high probability to push down again later, it's hard to know what will happen then.
Be aware, no matter what kind of trade you enter today, you need to exit before the FOMC news release.
Note
Recently, market has broken up the BOS at level 1.11286, without first grabbing liquidity from the orange marked levels below. So, abandon this potential LONG opportunity. Right now I don't know what will happen, probably start ranging.Order cancelled
Mission aborted !!!
Whether you have entered this LONG trade or not, you need to exit now. The FOMC news is coming out in 10 minutes, nobody knows how it will move the market. Stay away!
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