Review:
After Wednesday's up move, price stuck in a 40 pips range for 2 days. Friday, price did close near the high of the day. This likely set the stage for next week.
Trade:
Managed to build entries around 1.1240+, carried it over weekend as I still hold the view that EUR should move towards 1.1300, 1.1400.
Plan:
As price moves into the green zone, I would continue to build the size and target 1.1370 and 1.1400 (last high) before looking at 1.1450
I have been anticipating the trend change since the double bottom. There have been 2 good moves (Green solid line) and 2 deep retracements (Green dotted line), both tested 1.1200. A strong push above 1.1315 and eventual break of 1.1450 would confirm the trend change (until something else happens)
Post of Facebook: bit.ly/30zKfUm
After Wednesday's up move, price stuck in a 40 pips range for 2 days. Friday, price did close near the high of the day. This likely set the stage for next week.
Trade:
Managed to build entries around 1.1240+, carried it over weekend as I still hold the view that EUR should move towards 1.1300, 1.1400.
Plan:
As price moves into the green zone, I would continue to build the size and target 1.1370 and 1.1400 (last high) before looking at 1.1450
I have been anticipating the trend change since the double bottom. There have been 2 good moves (Green solid line) and 2 deep retracements (Green dotted line), both tested 1.1200. A strong push above 1.1315 and eventual break of 1.1450 would confirm the trend change (until something else happens)
Post of Facebook: bit.ly/30zKfUm
Trade active:
Closed off entries above 1.1250 (small losses), remaining protected to see if price would resume to the upper end of the consolidation and eventually break above
Trade closed: stop reached:
Stopped out at even.