EURUSD 1.17832 - 0.78% LONG * TREND CONTINUATION IDEA
Good Day Everyone
A look at the EURUSD pair from multiple time-frames.
* MONTHLY & WEEKLY
> Since from both this time-frames the sentiment is more or less the same will draft them out combined * The EURO gained momentum against the DOLLAR in the last weeks hitting HH, TILL WE SAW A BREAK ABOVE THE DESCENDING CHANNEL pushed up and came down to retest structure on both time-frames.
The pair retested structure and the 38.2 % Fibonacci level whereby it was rejected looking for a continuation to the upside or rather from a technical perspective on both time frames we are NET LONG ON THE PAIR.
> unless this is a fake out and we see significant moves to the down side and structure holds the trading plan stands.
* DAILY
> We have the 1234 move confirming that we are now in an uptrend so we could possibly see a retracement before we continue to the upside and when we come down to the daily time-frame this move is confirmed as we closed with a big bearish candle possibly signalling this move then possibly seeing a continuation to the upside . looking for confirmations to go long on the pair or rather continuation of this uptrend so lets see how it goes..
GOOD LUCK AND HAPPY TRADING EVERYONE
_________________________________________________________________________________________________________________________
ENTRY & SL - FOLLOW YOUR RULES ON PENDING ODER & SO FORTH
RISK-MANAGEMENT
PERIOD - SWING TRADE
__________________________________________________________________________________________________________________________
If this idea helps with your trading plan kindly leave a like definitely appreciate it.
* THE IDEA IS PREDICTIVE BASED ON TECHNICAL ANALYSIS MANY FACTORS GO INTO EXECUTING TRADES KINDLY TAKE CAUTION.
A look at the EURUSD pair from multiple time-frames.
* MONTHLY & WEEKLY
> Since from both this time-frames the sentiment is more or less the same will draft them out combined * The EURO gained momentum against the DOLLAR in the last weeks hitting HH, TILL WE SAW A BREAK ABOVE THE DESCENDING CHANNEL pushed up and came down to retest structure on both time-frames.
The pair retested structure and the 38.2 % Fibonacci level whereby it was rejected looking for a continuation to the upside or rather from a technical perspective on both time frames we are NET LONG ON THE PAIR.
> unless this is a fake out and we see significant moves to the down side and structure holds the trading plan stands.
* DAILY
> We have the 1234 move confirming that we are now in an uptrend so we could possibly see a retracement before we continue to the upside and when we come down to the daily time-frame this move is confirmed as we closed with a big bearish candle possibly signalling this move then possibly seeing a continuation to the upside . looking for confirmations to go long on the pair or rather continuation of this uptrend so lets see how it goes..
GOOD LUCK AND HAPPY TRADING EVERYONE
_________________________________________________________________________________________________________________________
ENTRY & SL - FOLLOW YOUR RULES ON PENDING ODER & SO FORTH
RISK-MANAGEMENT
PERIOD - SWING TRADE
__________________________________________________________________________________________________________________________
If this idea helps with your trading plan kindly leave a like definitely appreciate it.
* THE IDEA IS PREDICTIVE BASED ON TECHNICAL ANALYSIS MANY FACTORS GO INTO EXECUTING TRADES KINDLY TAKE CAUTION.
Comment:
The weekly and the monthly chart have more or less the same sentiment the overall direction is that we've entered into an uptrend until the market says otherwise and the descending channel structure holds. here's a look from the weekly chart
Comment:
and here's the monthly chart
Comment:
invest.com - Market participants will also be watching the dollar, which despite a rebound after Friday’s U.S. jobs report notched up its seventh straight weekly loss, the longest such streak in a decade. On the economic calendar, Thursday will bring the weekly jobless claims numbers, followed by retail sales figures for July on Friday. China is also to release a deluge of what will be closely watched economic data and earnings season will enter the final stretch. Here’s what you need to know to start your week.
za.investing.com/new...ch-this-week-2149055
za.investing.com/new...ch-this-week-2149055
Trade active
Trade active:
TARGET 1 SMASHED YOU CAN ADJUST YOUR SL TO PREVIOS SWING LOW AND HOLD RISK FREE
