EURUSD 1.21097 - 0.2% LONG IDEA * STRUCTURE & CONT PTTNS
Hey everyone
Here's a look at the EURO / DOLLAR from the 4H chart, hope you guys are enjoying your weekend and having a good Sunday as we await the market open.
Now the pair has been trading in that descending channel / bull flag / pennant from what angle you look at it, had hoped for a clean break out of structure but the pair is currently ranging at the roof of structure but that doesn't change the sentiment from higher Time-frames being net bullish. watch price as the pair might push down to the base of structure for more aggressive traders for swing positions will be watching price for significant moves with the bulls as the pair is on a retest of structure even though it may look like a false break will be looking at this one with pending orders and add it to your watch list...
many stars must align with the plan before executing the trade, kindly follow your rules.
LET'S SEE HOW IT GOES..
HAPPY TRADING EVERYONE & LET YOUR WINS RUN...
_________________________________________________________________________________________________________________________
ENTRY & SL - FOLLOW YOUR RULES
here's some of my rules if they help.
1. look at structure be it descending channels, pennants and so forth.
2. RSI is overbought/oversold so will be looking for a pull back to structure before continuation.
3. will be looking for entries from 30M , 1H, 2H & 4H time-frames if taking the trade long term.
4. aggressive trades can be executed on the pull back
5. price action must definitely align with the plan.'
6. structure definitely
7. the 20 EMA must be respected as support / see a bounce at this structure
8. FIBONACCI EXTENSIONS AS GUIDELINES FOR SL & TP'S .
9. CANDLE STICK PATTERNS.
so i will most like's enter this one in a bit but i hope this idea assists in any way on your trading plan.
RISK-MANAGEMENT
PERIOD - SWING TRADE
__________________________________________________________________________________________________________________________
If this idea helps with your trading plan kindly leave a like definitely appreciate it.
Here's a look at the EURO / DOLLAR from the 4H chart, hope you guys are enjoying your weekend and having a good Sunday as we await the market open.
Now the pair has been trading in that descending channel / bull flag / pennant from what angle you look at it, had hoped for a clean break out of structure but the pair is currently ranging at the roof of structure but that doesn't change the sentiment from higher Time-frames being net bullish. watch price as the pair might push down to the base of structure for more aggressive traders for swing positions will be watching price for significant moves with the bulls as the pair is on a retest of structure even though it may look like a false break will be looking at this one with pending orders and add it to your watch list...
many stars must align with the plan before executing the trade, kindly follow your rules.
LET'S SEE HOW IT GOES..
HAPPY TRADING EVERYONE & LET YOUR WINS RUN...
_________________________________________________________________________________________________________________________
ENTRY & SL - FOLLOW YOUR RULES
here's some of my rules if they help.
1. look at structure be it descending channels, pennants and so forth.
2. RSI is overbought/oversold so will be looking for a pull back to structure before continuation.
3. will be looking for entries from 30M , 1H, 2H & 4H time-frames if taking the trade long term.
4. aggressive trades can be executed on the pull back
5. price action must definitely align with the plan.'
6. structure definitely
7. the 20 EMA must be respected as support / see a bounce at this structure
8. FIBONACCI EXTENSIONS AS GUIDELINES FOR SL & TP'S .
9. CANDLE STICK PATTERNS.
so i will most like's enter this one in a bit but i hope this idea assists in any way on your trading plan.
RISK-MANAGEMENT
PERIOD - SWING TRADE
__________________________________________________________________________________________________________________________
If this idea helps with your trading plan kindly leave a like definitely appreciate it.
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