Fine tuning the EURUSD entry

FX:EURUSD   Euro Fx/U.S. Dollar
This is a follow up on the monthly chart posted recently.
In this daily chart we see that the short rally may be looking for breather here.
It's best to wait for our at this point. I would take a short position when the pair gathers enough steam to take out 1.3300 on the downside.

So the idea is to enter short when the price gets to our entry point at 1.3280. Enter the stop loss at the now resistance 1.3330. Target is just above 1.2800. In my experience, it's best to take your profits just before a major level is hit. So about 1.2805 or so would be fine. Giving up those 5 pips saves us 100's in the long runs.

It's obviously possible to fine tune this further by going into 4 hr             or 1 hr             chart but I think the risk reward looks nice for this trade here.

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i am very interested in your analysis on the eur/usd by what i am reading correct me if i am wrong <oh please let me know > that by sunday on the tading night to day mid monday i belive that it will sky rocket up to about 20 pips then plumet down by 7 then back up
Kaustubh michaelkopichanski
2 years ago
Hi Michael, I am not sure honestly. 'Sky rocket' and 20 pips somehow don't go together ;)
Monday asia open is a bad time to trade in my opinion. Liquidity is less, there is a lot of noise and generally speaking it's pretty directionless. But I could be wrong. That's just not my style of trading. I am more into 100+ pips moves and 4hr+ charts.
michaelkopichanski Kaustubh
2 years ago
why thank you for your response on this I am one that likes to do the 1 to 5 min trading and trying to find the fast trend weather it be the buy for 1 min or sell for 1 to 5 min mind you I realy need help on the candle stick readings I am in the level of beginier / intermediate
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