EURUSD. Small ABCD, big ABCD
Updated
Looks like the market will prepare the rate hike next week...
My entry points for a long position: now or 1.1230.
SL: 1.12
TP1: 1.1291, TP2: 1.1300, TP3: 1.1320
My entry points for a short position: will place a sell limit order at 1.1300
SL: 1.137
TP1: 1.1200; TP2: 1.1160, TP3: 1.1110
Once there, will review the market once again.
My entry points for a long position: now or 1.1230.
SL: 1.12
TP1: 1.1291, TP2: 1.1300, TP3: 1.1320
My entry points for a short position: will place a sell limit order at 1.1300
SL: 1.137
TP1: 1.1200; TP2: 1.1160, TP3: 1.1110
Once there, will review the market once again.
Note
Small ABCD started to work, heading to TP1Note
TP1 reached. Long to breakevenNote
4H timeframe (chart below) not showing any alterations of divergences. Can retrace to 1.1230 which still would be a good level for re-etnering longs.Any break below 1.1230 is an alert and a break below 1.1200 for me would mean we have entered into a bearish phase.
Note
TP2 hit. Opened short position, still expecting TP3 to be reachedNote
High volatility time is approaching. Keeping both long and short positions, removing SLs. Will close them manually. Important levels to watch are:
Supports: 1.1200, 1.1160, 1.1120 as per Big ABCD pattern
Resistances: 1.1330, 1.1350
I have set a buy limit order at 1.1200 and sell order limit at 1.1450 . Both levels can be reached between today and Monday next week
Note
Just wanted to mention a detail which for me is quite important: at 15.00 CET (9.00 a.m. ET) the journalists will receive the briefs of Janet Yellen´s speech. If you remember, USD took a nice dip when, some days ago, one of the FED respresentatives said that the whole monetary policy needs a review a re-design.Therefore, if some Reuters or Bloomberg posts a headline similar to "Yellen will talk about changes in the entire policy system", watch USD to dive.
A perfect setup would be: EURUSD goes to 1.12 on GDP news, we buy, move a long to breakeven and then get the news from the FED.
Note
No changes in GDP, no changes for USD. All left to the journalistsNote
And here comes Big ABCD movement. First target - 1.12Note
Big ABCD pattern hasn´t been invalidatedNote
Big ABCD TP1 reachedNote
Almost hit TP2. All shorts are at breakevenNote
Keeping one short. Even after today´s USD turn, I expect 1.1110 to be hit on the NPF volatility.Trade closed: target reached
We have only one target left: tagging a daily 200 MA, small false break and then should pop. I keep following this on another chart
Please, follow your strategy! Always!
If there is no strategy that has proven itself successful, please do not trade with real money!
If there is no strategy that has proven itself successful, please do not trade with real money!
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