Long

Updated

EUR Grouping-Looking for longs

EURCAD, EURNZD, and EURCHF have my attention premarket. EUR has a +4 strength going into market open so I wait to see if an entry signal appears. Look at the structure and flow to determine weakest links which so far are the currency pairs listed.

Trade active

EURCHF long opened. Going for 30 pips which puts us in the gap if we can get there.

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While waiting for EURCHF, I took some GBP trades to hedge as I felt strength in GBP and figured one or the other would move. I just didn't like the structure of GBP as much, but peeled my thought process back to the most pertinent things I need to see so I took the trade. Trading is a bit of gut instinct especially when correlating different pairs as it takes time to get a feel for it.

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EURGBP- If trading EUR or GBP pairs, learn to look at it and understand positioning. Might we head for those equal lows? Maybe, although EURGBP has a bullish structure to it, it has bearish positioning. Could go either way as EURGBP rarely heads in a straight line.

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Long on EURCAD. So long on EURCAD and EURCHF

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EURUSD is hitting the target I wanted to hit yesterday. The idea was right, timing was wrong that is why we are in a constant state of adjustment lol.

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Sure does look like EURGBP wants to run those equal lows.

Trade closed: target reached

Ching Chinnnnnnnng. While EUR wasn't the strongest group, it was a safe group to take trades in since the power structure was a +4 . GBP is mopping the floor with EUR and everything else but usually when GBP move, it will bring EUR with it since they are correlated even though EUR is getting hammered by GBP at the moment. Much like AUD/NZD and USD/CAD. Geographical location does have an impact. Anyway, both targets reached for 60 pips.

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Just as a post analysis on EURCAD, look at the equal high structure. Notice how when price came up to it the first time it only ran the bodies not the wicks, thus creating equal highs that were just ran out. Always do pre and post analysis of your trades.

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Also of note, EUR futures Contracts. We just ran 1.00000 Whole number. So now what happens with price? Is it going to bounce and turn or power through? We shall see.

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This is why I go for 30 pips at a time.

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Last trade hit. Total of 70 pips earned on EUR today.

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To close this out, 4 pairs gave out long profit today on EUR. Much better trading today than yesterday so it's nice to be back on track.

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