During London (Oct 03, 2022) EURUSD failed to break above the Daily Supply Level at 0.9850 as expected, giving me more confidence in the possibility of the overall move to continue lower (and re-visiting my original targets of 0.9640 and 0.9510). I am looking to add more positions into this overall move as follows:
1H Failed to create a new Higher High during London, signaling a break of structure is possible, I would like to see 1H break below the London low at 0.9740s and then pullback and re-test this level. This would be my area of re-entry to add more positions to this move.
Entry = 0.9750 (with 1H Break of Structure confirmation)
Stops = 15 pips above
Targets = 0.9640
0.9512
Target RR = 12:1
Note: this is not trading advice and/or signals, this is solely my opinion and interpretation of the market, please do your own analysis and manage your risk responsibly. Best of luck on your trading.
As always, would love to hear your feedback as well as where do you think EURUSD is headed next!
1H Failed to create a new Higher High during London, signaling a break of structure is possible, I would like to see 1H break below the London low at 0.9740s and then pullback and re-test this level. This would be my area of re-entry to add more positions to this move.
Entry = 0.9750 (with 1H Break of Structure confirmation)
Stops = 15 pips above
Targets = 0.9640
0.9512
Target RR = 12:1
Note: this is not trading advice and/or signals, this is solely my opinion and interpretation of the market, please do your own analysis and manage your risk responsibly. Best of luck on your trading.
As always, would love to hear your feedback as well as where do you think EURUSD is headed next!