FX:EURUSD   Euro / U.S. Dollar
Fresh supply zone ahead, possible retracement, short opportunity.

Stuff to remember:

— First look for significant move, then follow it to its origins where you might find a suitable level to evaluate further

— Make sure the initial move is significant on the same timeframe as the one you use for viewing your candidate level most clearly

— Check the distance that price traveled before the trend ended, longer distances mean larger initial imbalances and improved probabilities in the future

— The strong initial move can contain a few small retracements but not so many that make this move slow and weak

— Avoid opposing levels on the same and immediately higher timeframes, prefer to have a clear road ahead for your trade to run

— Make sure your level is placed correctly (low for Demand, high for Supply) in relation to the big picture's important tops and bottoms

— Trading the first return of price to a valid "fresh" level carries the highest probabilities due to the larger imbalance

— A valid level is considered "fresh" if price has not returned to it since its creation. It has nothing to do with how old the level is
Hi guys, i opened a sell position at 1.7378 last week with target 1.725 but market reversed....and it is now 1.9346.....I need advice please...
Reply
have a slightly different view
but best of luck !
Reply
@ARFXC, Thank you.
Reply
Do not sell EUR.USD blindly. This is the 5th wave and it should be 5-3-5-3-5 structure. There are many reasons predict the price advancement up to 123.80.
+6 Reply
Took in the shorts EURUSD, an average of 1,1860, now a huge loss, since the shoulder is 1:25, where to put stop-loss and take-profit?
Reply
@exebet, my stoploss will be 1.2095
+1 Reply
exebet Tradewonk
@Tradewonk,
I'm afraid I will not survive care and fastening above 1.1930, most for long with targets ranging from 1.2060 to 1.2494. Now I want to buy from 1,1882 to 1,1813. But if the price is fixed above 1,1930 by 10:00 - 13:00 Moscow time, I will turn from short to long, with the first goal of 1.2060.
Reply
@exebet, Trade safe. cut your losses fast, don't let one trade ruin your account.
+1 Reply
exebet Tradewonk
@Tradewonk,
With a minus of 85 points, drawdown on the account is already minus 15.25%!
The current loss for the long USDCAD 1.2503 (7.5%) and EURUSD short 1.1860 (92.5%)
Reply
JayM exebet
@exebet, stay in your shrt position and take profit at 1.1560.
+1 Reply
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