Short

Updated

EUR USD Strong sell off point in the past

We have finally reached the 1.1, and will more than likely reach up to 1.102. Looking back on the daily, we see there was a strong sell off from this level around February 2, and it created a clear supply zone (top box is peak high, area above small box and below top box is supply zone).

Assuming the rule of the markets typically take back gains given quickly, looking to short back into the breakout zone from where the news spiked out.

Currently scalping this pair, so watching close, and once we reach up to that level, I'll be looking to enter a long trade off the hourly chart, using the 1 minute as entry. Looking for price to break the trend line first to confirm. Right now, we're just fighting with the news peak level, but the major peak level is just slightly above, so seeing a lot of reasons for sellers to be in this area.

Entry for this trade is expected after market open, it will rise up then start to head back down to the breakout area, filling the price in efficiencies and then head back up from there I'm expecting.

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Once trend line breaks, looks for a rise in price like a stop run, then take entry on the way back down and it should follow through, maybe have a slight retest

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That looks like a trap 🪤 (5-15 minutes).... Stop run should happen after open then we go ...

Trade active

Very strong reaction from supply, market entry at 1.0997 stop 1.1016

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Engulfing candle on the 15 minute, very solid signal engulfing 2 candles. Target 1.093

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1.1006* stop, 8 pip risk at this level for roon on anoter entry if there's a run that reaches higher, lot of selling at the top though

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Triple Tap Top, another good sign, one I thought we'd see. Should hold

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All but a few bullish structures are broken, out of all achannelas and below all uptrend lines

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Crossing 1:1.5, set trade to risk free

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True "Price action entry point", Success here is a great indication the trade will follow through, (15 mins chart set up)

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Stop to 1.0945 (spread included) to be at the most recent high. Stop run could still happen. Half the position closed at 1:1.5, let the rest run to target. I may be looking for bed soon, so may not catch a target or stop hit if I'm out

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Stop to 1.0991, didn't break the swing low and struggles, may see a stop run soon...

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1.0989 (1:1 for that half, still not breaking the swing low, stop above 1 minute lowest high

Trade closed manually

Stopped at 1.09853, stop run incoming.....

Trade active

Buying the stop run (scalp, 1.0987 entry, stop below swing low

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Sell trap pattern plus liquidity of the session open = stop run ingredients

Trade closed: stop reached

Lost 6 pips on buy, net 15 pips positive still. Getting wild, and I'm getting a bit tired...

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Took my 6 pips back and 3 more, let the dust settle then enter short again....

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Doing a shakeout right now, once that's finished, it should resume short to the intended target area

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1.10156 is the most likely peak point

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By doing that it would make a larger scale triple tap top, a good engulfing candle off that point makes a great re-enter point

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There is also one other point, just slightly higher, so it's a 3*3 catch 33, 🤷🏻‍♂️ just have a good down signal to enter, very chopped up

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If it doesn't go much higher, this is just a repeat of what it did the 4-5 on a smaller scale, looks eerily similar 👌

Trade active

Short now, 1.09979, stop 1.1007

Trade closed: stop reached

-9 pips, wait to go again, not repeating it the same

Trade active

Entry 1.1018, stop 1.1025

Trade closed: stop reached

That's it, I'll take my 6.1 pips and go to bed 😂

ForexStoryteller

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ForexStoryteller