Small area trade

Was not entirely comfortable with the last position with the new activity. This looks much more likely, aligns with the more common levels, and does not have a target that's a little far away, another issue I had with the last position. Stay sensible 😊.

1.064 entry, 1.066 hedge buy, 1.0555 target

Note

Expecting a bit slower day today, and looking at sensible levels for the change of pace. The EUR did find some stability, but I still think we're going to range in the lower parts of the range. Not intending to hold over the weekend, and if entry is gained this leaves plenty of options for closing in profit of the target is not reached. Using about 20 pips of risk, and looking at a "breakeven and reset" style hedge protection. I'm keeping the bias for short and if the hedge gets picked up it's near the top of the range still. If we leave up out of the top of the range for some odd reason I'll look to liquidate at a level of interest above, but I don't see too much reason for it to go up very much today, if it even makes the entry, just above a now unhidden level but still a major level of interest where I'm looking for the entry, and still a few things in the way going up to the hedge, so fairly safe trade, with a very likely outcome to finish out the week with

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I do give this entry a good chance if the EUR follows it's usual pattern of retest the most recent high or low after open, which would be the point where entry Short is nested

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Yesterday's trade, although not to target, did mark a double milestone day for me, so that was starting to influence my decisions. Had to reset and just keep repeating what I'm doing every day, keep it going.

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Looks like it may keep with the pattern and run at the high for yesterday. Still holding entries at the same points

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Entry looks very likely at this point, and seeing some signs of divergence from a few times frames and also from trend line divergence (using below a line instead of above) looking like it will be driven back down before much longer

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Spark of hope news can make the volitily for the reach to the entry

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If price does manage to push above and hedge, I would be expecting pattern of some scale to start next week. I'm looking at the common trend lines used from the above pattern triple tap, along with levels of interest at a few points in what's left in the range. If we also consider Fibonacci traders, there's still a little pullback room, so haven't broken that possibility yet, if we're using the extremes of the moves as the most common tactic. We do still have some room to run a range before all factors of a new trend can start to take effect.

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Seems like some mixed and even now expected news is coming in, paired with all the chaos from before, I don't think everyone has reached a majority yet, further supporting the range being maintained for a bit

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Plus the fresh stability, and other world markets finding some relief

Trade active

Limit reached, entry made

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Second entry added, at another resistance level and expecting rejection at any moment, going to try and maximize the downward move when it comes

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Additional hedge also added and both hedge orders adjusted up slightly to 1.06660

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About 66 pips of risk, 150 pips of reward in the current situation.

Order cancelled

Hedged out, will just observe and look for a better opportunity to come

ForexStoryteller

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ForexStoryteller