Just a small update for those following the other EURUSD analysis. While a sell off did start occurring last week, the perspective for one last rise still remains until the rising support strength shown can be confirmed to be broken.
Keep an eye on any bullish strength rally breaking, as well as the bullish strength pictured breaking. one or both of those should lead to the desired sell off initially targeting the 1.11 area.
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Comments
dchua1969
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i have noticed in several occasions that once it break down/above the channel, the first candle may not be a good entry price. Eg. EURUSD in 15mins chart now - it has 3 red candles bar down followed by another 3 green ones concurrently....
how should one optimise their entry price and place their stop loss/profit to maximise risk/reward ratio? Or is this more of a hunch thing? thanks
MosesSin
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Agree!!here is my trade idea...hope u can comment on it... I short@1.124,will add one bet above each 150 pips... Stop loss around 1.16-1.17 depends....
legacyfighter
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This analysis is similar to my own. Expecting very short term to be bullish, possibly through close on Monday. Then down for the rest of the week toward the 1.1 area. After that, rally long!
GeneraldisastersInc
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Nice analysis, I was wondering what to do with this come monday.
I think the chance of a break down is very high looking at those two last red candles. The other bounces have been very powerful, this one looks like a wet rag.
ronlb
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Talking about short if there is a rise to the alternate channel range is a bit soon isn't it?
ronlb
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but to add, 20m is extremely bullish in my view. 4h we may discuss. Renko is about to hit the resistance. So I'm following closely. Thanks for your input.
ronlb
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*30 min
Synapse
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Hi Ron, thanks for your comment. I've indicated both scenarios in the analysis shown above. If we confirm a break below the support shown, the bullish rally likely will not take place. If we confirm a break of the minor bearish strength shown, the bullish rally is likely. Right now, either scenario could happen, we as traders would do best to simply wait for confirmation one way or the other. My view as a whole is to sell, but should we rally first, I will sell the strength that forms from that rally. We've already hit my ideal sell range last week, but it's possible that we may make one more run at 1.14.
how should one optimise their entry price and place their stop loss/profit to maximise risk/reward ratio? Or is this more of a hunch thing? thanks