Could be a good buy if H4 could generate nice pin bars at that area. Right now, Price reaching that area with intense agression. When will it cool off? Support holding reasonably well. If breaks of support, could be looking at sell EUR pairs overall. But i wont go into that yet. Im still holding my sell EURNZD looking to close out soon and re enter longs on EUR pairs
Violation of support line would invalidate this trade.
D1 trade with caution as always
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Comments
P_Parker
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Hi,
is this inverted Hammer your Buy Signal?
regards
Parker
PriceActionTrading
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No parker, touch on the trendline was already the signal.
It was a bounce or break trade. It did bounced then it broke :(.
D1 closed 0.7138, this trade is not valid.
PriceActionTrading
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Anyways inverted hammer is a very bad buy signal.. i wont even classify it as a buy signal. I would take that hammer as a "close your buy" or "look for shorts"
Casey_Yeo
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Seems like will break
PriceActionTrading
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Yea. Then i will trade the "back above". If this break caused a lower low then trade is invalidated.
Thanks casey.
EUR pairs seems to be reacting to the upcoming news. So its abnormal, after the news price go back "back above", or bye bye.
Casey_Yeo
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Haven't been checking what news coming up this week. What are the 'red' news this week?
EUR fall nicely. Shorted EURJPY yesterday (testing idea) and TP hit today.
PriceActionTrading
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EURUSD attempting to break support level too. EURNZD already did. Traded it for 200 pips straight.
EURCAD have not reach support level yet. Hope we can get a good "back above" trade on EUR pairs.
EURUSD
EURCAD
EURNZD
PriceActionTrading
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Its an economic sentiment, coming right up 90mins more. Its definitely RED.
Way i see it, price is adjusting lower for better long entries. Unless otherwise proven :)
is this inverted Hammer your Buy Signal?
regards
Parker