We identified a head and shoulder pattern on the Eurusd followed by a breakout pattern as price held a key level for 2 times before breaking in the previous candle according to my rules that would be an entry with SL at 1 ATR and target at 1:1.5 risk to reward ..
Looking at this pair it did hit some resistance and bounced back but I'm still expecting it to break to the upside
anyway I have a trade that follow my plan here so I took the trade only at a 1:1 risk to reward until we see whether it will
break or not .
This pair has formed a flag pattern and broke u also we have a bigger head and shoulder which is yet to break the neckline
at this point I had a long trade according to my rules but I will be more interested in taking bigger targets once the price confirm
breaking structure to the upside .
as price recently signaled a potential shift to the trend after forming a DT on the daily , it seems it reverse trend on the H4
price formed a new high above the 50 ema then the pull back and entry came at the last candle
check out my blog for detailed view on this strategy
mborriello.blogspot.com
or you can watch my video if you wish to see it in action...
WE HAVE A CHANCE TO LONG EURUSD AT THE BREAK OF THAT FLAG PATTERN ,, ORIGINALLY THE TARGET WILL BE AT A MEASURED 1:1 MOVE BUT I'LL KEEP AN EYE ON THAT RESISTANCE ZONE I HAVE MARKED , IF PRICE BREAK DOWN THEN THE NEXT LONG OPPORTUNITY WILL BE AT THE INTRADAY LEVEL START FROM 1.1775
LOOKING AT THE DAILY WE CAN SEE THAT PRICE HAS BEEN IN CONSOLIDATION FOR A FEW DAYS AFTER A HUGE NOSE DIVE AND THAT CONSOLIDATION USUALLY CREATES ADVANCE PATTERNS AND THAT'S WHAT WE WILL SEE AS WE DROP DPWN TO THE 60M A POTENTIAL ADVANCE GARTLEY FORMATION WITH A GOOD RISKS TO REWARD
THE LINE CHART TELL A DIFFERENT STORY AS WE SEE PRICE NOW IS ABOVE THE PREVIOUS HIGHEST CLOSE AND IF IT CLOSE THE MONTH ABOVE IT THEN I WOULD HOLD ON BUT AS WE MOVE FORWARD IF I SEE ANY EVIDENCE ON THE DAILY THAT WE MIGHT HOLD THEN I WILL BE LOOKING FOR A SHORT DOWN TO AT LEAST 1.0600 LEVEL ,,,, IF PRICE END THE MONTH BREAKING THE PREVIOUS HIGHEST CLOSE I WOULD...
looking at a TCT trade on the H4 chart as price pushed down to the previous consolidation zone formed a DB and then with a higher high higher close candle it's time to execute the trade
target at the retest of the previous high
AFTER 300 PIPS BREAK TO THE UPSIDE THIS WEEK WE MIGHT EXPECT A RELIEF WHICH IS MORE LIKELY TO COME IN A FORM OF CONSOLIDATION SINCE WE STILL HAVE AN EMPTY SPACE TO THE 129.00 LEVEL
SO NOW IT'S TIME TO GO LONG AND TRY TO RIFE IT UP TO THE 38.2 % RETRACEMENT ,, BASICALLY IT'S COMING IN THE MIFFLE OF NOWHERE FOR ME IN TERMS OF MAJPR STRUCTURE BUT STILL HAVE A HIGH CHANCE TO BE A WINNING TRADE
been waiting for this for so long and now it's finally coming close to execution ,,,i would consider this level as a minor level so if we gonna see a reversal it might not go pass the top of the previous resistance now turned support at 1.0880
BASED ON THIS ANALYSIS WE WOULD SUSPECT THE PRICE WOULD REACH THE GREEN BOX AND WE CAN HAVE A TONS OF TRADING OPPORTUNITIES HAVING KNOWING THAT INFORMATION
1. WAIT FOR THE PRICE TO REACH THAT GREEN BOX TO TAKE ACTION
2 . FIND A LONG ENTRY ON A LOWER TF AND KEEP IN MIND THAT YOU HAVE TO FIGHT THROUGH THAT RESISTANCE AT 124.00
3. WAIT FOR THE PRICE TO REACH THE...
THIS PAIR HAS BEEN MOVING IN A SMALL RANGE FOR ALMOST 4 DAYS NOW AND THE BEST WAY TO TRADE THIS KIND OF MARKET MOVEMENT IS ADVANCED PATTERN , ONE THING TO KEEP NOTE OF IS THAT IT COMES AT THE BREAK OF THE HEAD AND SHOULDER NECKLINE
