pbmalla77

CHANGE IN BIAS SHORT TERM. BUY

Long
pbmalla77 Updated   
FX:EURUSD   Euro / U.S. Dollar

BASED ON MY UNDERSTANDING OF PRICE ACTION. MARKET MOST LIKELY TO MOVE HIGHER IN THE SHORT TERM.
Comment:
3 WAYS I WOULD GET LONG;
1. PRICE HITS BLUE BOX FOR BUY. STOPS BELOW MONDAYS LOW.
2. PRICE CONTINUES MOVE LOWER AGGRESIVELY, BUY AT MONDAYS LOW( RED X). STOP AT 1.13000
3. BUY AT DAILY MEAN. STOP AT 1.13000

CAUTION: MANAGE YOUR RISK. EAXMAPLE :IF MY OVERALL RISK IS 2 %. I ONLY RISK 0.25 % ON EACH TRADE. THIS GIVES ME 4 CHANCES TO GET IN.
Comment:
TYPO ERROR: EXAMPLE
Comment:
MARKET MOVED HIGHER RAN MONDAY AND TUESDAY HIGH. NOTICE THE CLEAN INTERMEDIATE LOWS ( DOUBLE BOTTOMS RESTING JUST ABOVE THE BLUE BOX).
MOST LIKELY MARKET WILL MOVE LOWER RUN STOPS AND CLEAN LOWS INTO THE BLUE BOX AND MOVE HIGHER.
I HAVE BUY LIMIT ORDER RESTING:
BUY: 1.13800
STOP:1.13530
TARGET:1.15099

RISK 27 PIPS/ REWARD 129 PIPS
Comment:
CORRECTION: LIMITBUY @ 1.13879

RISK 34 PIPS/ REWARD 129 PIPS
Comment:
PRICE TOUCHED 1.13983 LEVEL COUPLE TIMES AND MOVE HIGHER. LIMIT ORDER SITTING 11 PIPS SHY OF ORDER GETTING FILLED. IT LOOKS LIKE IT WANTS TO RUN HIGHER TOWARDS THE S/R LEVEL. I HAVE ANOTHER LIMIT ORDER FOR BUY.

BUY LIMIT: 1.14567
STOP: 1.14324
TARGET: 1.15500

RISK 24PIPS/REWARD 94PIPS
Comment:
LIMIT ORDER STOPPED OUT. LOOKING AT THE DOLLAR, MOST LIKELY IT WILL MOVE HIGHER. THAT IN MIND THE EUR IS POSED TO MOVE LOWER AND NOTICE THE STOPS BUILDING IS MOST RECENT SWING POINTS AND WE HAVE FOMC NEWS WHICH MAY BE A CATAYST TO RUN STOPS. MY BIAS IS BEARISH FOR NOW.
Comment:
PRICE REACHING FOR MONDAYS LOW
Comment:
1.13544 LEVEL. PROTECTIVE LONG STOPS RESTING.
Comment:
MARKET REACHING FOR 1.13020 LEVEL (RED HORIZONTAL LINE)
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