EU - Multiple potential trade opportunities, BUT...

There are multiple potential trading opportunities, but most are lower probability. And with multiple possible directions, it has the potential to create whipsaw moment. Sidelines is not a bad strategy at this time.

I have a sell limit order currently opened. Price needs to break below 1.2337 with momentum for a pull back. If it doesn't, expect bulls to push price higher and retest resistance. Again, sideline maybe the best position at this time.


1M:

Minimal useful information. No actionable information. Price is bullish, candle is almost complete. Price is approaching some general resistance areas.

1W:

Bullish overall. Hollow square was my educated guess a few months ago of the next trading range. It is a guess so it shouldn't carry much weight, if any. Price is also at weekly historical resistance zones. While overall price is bullish, it looks prime for a pullback or correction.

1D:

Divergence building. Bears failed to gain control several days ago. Attempt made again but at this time has failed to push price below 1.2337. Thus no meaning pullback has occurred at this time. It still looks prime to occur in near future.

4H:

Double pinbar bottom breaks out of consolidation pattern.

Trade active:

Cancelled Limit Sell Order. Entered S.T. trade short @ 1.24072.

SL is now below entry price, so trade is a net neutral trade at worse. (New SL 1.2407)

Actively watching and managing trade. Should be quick.

Trade closed manually:

S.T. trade above closed for a modest gain.

Based on price action, the next trade could be a retest of the resistance zone.