I entered at the grey line, but I don't post here regularly or on time. But here is an idea for you all anyway. You may want to wait and see how price reacts around TP1 area before actually taking profit there. Good R:R, so enjoy. Visit renforex.com for more if you are happy.
The bold lines represent a generic looking flag formation. See how the high and low of the flag matches previous important price levels? This is how we determine breakout. And as always when looking at a "bear" flag formation, the bias is for the downside. However this is not guaranteed, so you should always wait for confirmation before entering the trade. A...
The price can bounce from the support zone formed by the uptrend line, SMA50 and 1.18500 support level. RSI confirmed price reversal. MACD histogram supports upward movement. We can use the previous swing high from the lower time frame for placing buy orders. If the market moves above this high, we'll get an additional signal confirming further upward movement....
Sell below 1.1862. Stop loss at 1.1974. Take profit at 1.1728. Reason for the trading strategy (technically): Price has broken major support and we now look to sell below major resistance at 1.1862 (Multiple Fibonacci retracement, horizontal pullback support) and we look to sell on the pullback to this major resistance for price to drop to at least 1.1728...
The euro is not so strong as we thought. The common currency plays it close to the edge. During almost twenty days, the European currency had been growing because of the dollar’s weakness and not because of its own strength. Quite apart from the fact that the political situation in Europe has been improving, EUR will need a support from the ECB on December’s...
Daily Supply area reached 1 hour momentum line formed but not broken yet therefore EURUSD is just on watch list - not trading until Momentum line is broken Target = 1.17525 area SL above upthrust high if it holds before LPSY is made
Bullish,uptrend crossed a very key resistance area looking to go long after a pullback to res level 1.18500
Sell below 1.1877. Stop loss at 1.1974. Take profit at 1.1728. Reason for the trading strategy (technically): Price has reached our profit target perfectly. We look to sell below major resistance at 1.1877 (Fibonacci retracement, Fibonacci extension area, horizontal overlap resistance) for a push down to at least 1.1728 support (Fibonacci retracement, horizontal...
A longer term pending position with anticipations of going lower. Targets are quite conservative
Sell below 1.1862. Stop loss at 1.1974. Take profit at 1.1728. Reason for the trading strategy (technically): Price is approaching major support at 1.1862 (Multiple Fibonacci retracement, horizontal pullback support) and we look to sell on the break of this major support for price to drop to at least 1.1728 support (Fibonacci retracement, horizontal pullback...
Hello, youraveragetrader here! :) Fresh new bull channel. - Potential short or - Wait for the fall back to the bottom of the channel and enter long for a safer play.
With further declines in the USD Index seen as a medium to high probability, the EurUsd is likely to inversely benefit continuing its recent advances. A break of key resistance at 1.19370 will expose the next key area of resistance at 1.20770.
I could be a million miles away, but I do feel it's overbrought, we need a pullback to either continue up, or down. US thanksgiving was last week, therefore low volume for the dollar which meant every other currency could get ahead. Come tomorrow, the dollar should kick back into action. let's wait and see...........
The end of a bear trend is recognized when each successive rally fails to penetrate the low point of the previous rally. Each decline terminates at higher point than the previous, displaying a series of successive Higher highs and Higher lows. Expecting bearish moves on USD pairs... ( dxy -0.11% to the downside). Also we have a head and shoulders...
BUY EURUSD we are in wave 5 Targeting 1.2050 stop should be placed at 1.1520
Sell below 1.1877. Stop loss at 1.1974. Take profit at 1.1728. Reason for the trading strategy (technically): Price has shot up and is approaching our profit target really nicely. We look to sell below major resistance at 1.1877 (Fibonacci retracement, Fibonacci extension area, horizontal overlap resistance) for a push down to at least 1.1728 support (Fibonacci...