This is my first attempt to simultaneously trade "into" and "out of" data release. The thesis is on ISM PMI release later, which the USD expected to do badly. My game plan is I'd like to trade with the data expectation for now despite my calculated odd that the data will be good. Meaning I'll short USD and revert my position closer right before the data release....
Hmmmm, I get it, long EUR because of current account differentials, QE taper, balance sheet normalisation, US political uncertainty, French elections over, everything rosy in Europe. But often, the obvious is obviously wrong . If EUR respects 1.20-1.21 as overhead resistance, then we could be looking at just a 50% retracement of the huge down leg. Suggesting...
Short term long position. Bought at support + 2 pattern completion zones
We have recently formed Tweezer bottoms (bullish) formed just above significant support of 1.17 that has been in effect since early August We did have tripple top just above 1.20 price level, however if we look at monthly scale - we can see super strong bullish momentum Also, last business week has retested and closed above significant monthly support meaning...
- bullish cypher - rsi oversold one hour - approaching key level of resistance - deviated from 20 ema (Daily) - T1, T2 at .382 and .618 fibs
Sell below 1.1841. Stop loss at 1.1890. Take profit at 1.1728. Reason for the trading strategy (technically): Price is approaching major resistance at 1.1841 (Fibonacci retracement, Fibonacci extension, horizontal overlap resistance) and we expect to see a strong reaction off this level to push price down to at least 1.1728 support (Fibonacci extension,...
- bullish gartley - great R;R - RSI oversold heavily - T1, T2, T3 at .382, .618 and 1 fibs - minor trend i still believe is bullish and expect this to be a bear trap - may extend T3 to 20 ema (Daily)
The EurUsd last week broke down below key support at 1.18455 and is now pulling back to re-test this area as resistance resulting in a Bear Flag formation. A re-test of the 1.18455 would provide a great place to look for potential shorting opportunities down towards the targets of 1.16942, 1.16339 and 1.15167 respectively.
Please see related idea for more insight. Many pips made so far with these moves recently. This is what I like to call a triple whammy. 1) The gap must be filled 2) Retrace is due. 3) Previous support should be tested as resistance. The combination of these factors allows us a better understanding of WHEN the price is likely to reach our target. Which makes...
Harmonic pattern will complate @ 1.1724 / 1.1695 levels. Its good to buy arround this levels and put stoploss point below 1.1695. Target will be 1.1830 / 1.1860 Good Luck!
Finally.. it go down Market pressure confirm the trend
If you like this idea leave a like and follow me to get all of my updates :) I would love to talk to you so send me a message! Underlying: EURUSD Time frame: 1D Recently I posted a chart of this pair in a trading range, it had hit the support and resistance several times before then breaking down. Now it has broken down I am looking for support to kick...
- rsi oversold - price deviated from 20 ema - retrace expected - approaching key level of support - T1 at .382 fib and T2 at .618 with sl trailing till .382 as overall trend on weekly chart bias is bearish - sl is reasonably large so recommend downsizing position to take this trade set up
Buy above 1.1776. Stop loss at 1.1727. Take profit at 1.1865. Reason for the trading strategy (technically): Price is now testing major support at 1.1776 (Fibonacci extension, horizontal swing low support, Fibonacci retracement) and we expect to see a bounce above this level to push price up to at least 1.1865 resistance (Fibonacci retracement, horizontal...
Hi guys, a little update to the trade idea I published earlier last week. Today we had a major bearish day for the EUR/USD, does that mean we can short now? A unexprienced tradre might think so, after all we got strong bearish momentum in the market today. However as a good trader we wan't to establish a portfolio for our trade idea. So lets look at other...