🔥 ALTERNATIVE: EURUSD 🔥 SWING TRADE 🔥
Updated
TP3 @ 1.0966
TP2 @ 1.0855
TP1 @ 1.0790
BSO @ 1.0691 📈
SL @ 1.0630 🚫
⚠️For those of you who'd like to enter a longer term position than our previous Day Trade version of this trade then the above coordinates are for you.
We have observed that placing a tight Stop Loss (SL) would have resulted in being Stopped-Out. However, knowing we have the BIG PICTURE trend to the upside, I decided to manage the trade and "ride the wave" (i.e., hold it in drawdown) at least to our Minor Support Level @ ~1.0638, As of now, we have gained +30 pips.
Price Action suggests a probability of a pull back (PB) down to the Daily Open @ 1.0688. Therefore, we will not be placing a Manual SL until after it PB. For now, we believe placing a SL below Support is the best bet.
It is important to note that managing trades can result in better outcomes than relying solely on a tight SL. Additionally, considering Price Action and Support levels can aid in making informed decisions regarding SL placement. We recommend placing a SL below Support for this particular trade.
I pray you're Profiting with Professor
TP2 @ 1.0855
TP1 @ 1.0790
BSO @ 1.0691 📈
SL @ 1.0630 🚫
⚠️For those of you who'd like to enter a longer term position than our previous Day Trade version of this trade then the above coordinates are for you.
We have observed that placing a tight Stop Loss (SL) would have resulted in being Stopped-Out. However, knowing we have the BIG PICTURE trend to the upside, I decided to manage the trade and "ride the wave" (i.e., hold it in drawdown) at least to our Minor Support Level @ ~1.0638, As of now, we have gained +30 pips.
Price Action suggests a probability of a pull back (PB) down to the Daily Open @ 1.0688. Therefore, we will not be placing a Manual SL until after it PB. For now, we believe placing a SL below Support is the best bet.
It is important to note that managing trades can result in better outcomes than relying solely on a tight SL. Additionally, considering Price Action and Support levels can aid in making informed decisions regarding SL placement. We recommend placing a SL below Support for this particular trade.
I pray you're Profiting with Professor
Trade active
After this morning's ISM News, Price Action (PA) moved swiftly in our favor. I'm still holding my EURUSD long.FUNDAMENTAL ANALYSIS:
The latest report from the Institute for Supply Management (ISM) has revealed a concerning decline in the services PMI, falling from 51.9 to 50.3. This data is below the projected value of 52.2 and suggests the country is on the verge of a recession. As a business person, it is essential to note that a score of less than 50 indicates that the industry is contracting, which is not a positive sign for any sector.
Following the release of these findings, the DXY index has shown that the US dollar has surrendered much of its session gains. This result is due to dropping Treasury yields and weaker-than-expected services PMI figures, which may provide the Fed with a cause to halt and hold rates steady at its June meeting. As a result, businesses must be prepared for any potential changes in the market and adjust their strategies accordingly.
While it is important to note that data from month to month can be noisy, it is crucial to keep a close eye on economic indicators to ensure that the economy stays stable. If other indicators suggest a recession is imminent, it is time to take action and prepare accordingly. As businesspeople, we must stay informed and make informed decisions to protect our companies and employees.
Trade active
There is a high probability of Price Action (PA) dropping to Support @ ~1.0685 before continuing the Long-term swing uptrend (UT).Note
AN AGGRESSIVE OPPORTUNITY:The Daily Open (DO) price @ 1.0712 could hold as a Support Level and continue the uptrend (UT). If the UT continues, it's an opportunity:
(1) To place an add-on Buy Stop Order (BSO) @ 1.0723 or
(2) To modify our Stop-Loss (SL) @ 1.0700
Trade active
The recent Price Action (PA) breaking the Anchor Break (AB) at 1.0723 is a positive development. With the probability of the Support at 1.0712 holding the uptrend (UT), now may be an opportune time to consider taking advantage of the UT.It is important to note that although the BIG PICTURE trend is up, there is still the probability of Market Makers taking advantage of the lower Support level @ 1.0685. Manage your positions accordingly.
Trade closed: target reached
TP3 @ 1.0966 💰 +275 pipsTP2 @ 1.0855 💰 +164 pips
TP1 @ 1.0790 💰 +99 pips
BSO @ 1.0691 📈 Net Equity +275 pips
SL @ 1.0630 🚫
Professor C. E. Ward
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