EURUSD buy setup.

FX:EURUSD   Euro / U.S. Dollar
11786 28 301
Hello Traders , EURUSD             is in a corrective structure and I am expecting one more move up before the bigger down move. Buying the breakout of this corrective structure looks like a good idea.

Trade with care.
Thanks for your support.
Comment: Please beware of the gap if you are in the buy.
Comment: Is it filling the gap?
Training : add to skype mangal457
Love your setup!
Thank you for the update sir!
I don´t know really who accurate is this definition... Gaps. Gaps help performance in a bear market, but the result may change
with additional samples. In a bull market, breakout day gaps either hurt performance
or have no influence. "Encyclopedia of Chart Patterns" Thomas N. Bulkowski
sir can we buy again when gap is filled???
Do you have any idea why is there is large gap?? I never understood this gap mechanism! And is it necessary to cover up that gap, if yes then how much % it can recover that gap as in past history records??
I have never personally done any research on it, but i guess you can find the stats if you search the net.
nahidik FxLoser
I did research gaps or windows as they are referred to by the Japanese candle chartists. Most believe the gap is an area of strong supply/demand. The conventional thought is if the gap is partially closed and price action moves out of the gap follow the direction out. If the gap is slammed shut it will become supply turned resistance or vice versa so you have an opportunity for a trend reversal. I don't think Anil endorses any supply/demand theory so it may not be pertinent here.
Below is an example I published a little while ago when the structure was looking for a down move. I noticed the open window. As you can see it slammed shut came back like a hook and go and created a tidy profit. Also when it eventually came back through it changed from resistance turned support and was a good place to short on the down move. Like all trading it doesn't always work like that but something to be aware of. I hope that helps.
+1 Reply
Anil Still good to Buy?
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