justatrader
Short

EURUSD - For those who missed the boat

FX:EURUSD   Euro Fx/U.S. Dollar
1642 2 20
Trade Strategy:
1. Bearish flag in a down slope price channel
2. 100% Flag fib level + price channel broken support (to be tested for resistance) = a higher probability entry
3. Stops placed a technical level. A rally to 1.25 level will potentially invalidate the flag & price channel
------------------------------------------
Some trading notes when using flags. Refer to the description on charts.
In summary:
1. First plot a price channel and then trade any flags inside the channel.
2. Trade flags only in the direction of the price channel
3. Price channels are plotted by identifying 3 swing points, which are support/resistance levels
4. With flags, price generally bounces back from 1.272% to 100% which offers a second entry level (besides the 78.6% break down level)
5. 1.618% is the final target and those feeling adventurous can target 2.618% as well.
There was a Cypher Pattern in between which made U stopped Out
Reply
United States
United Kingdom
India
Deutschland
España
France
Việt Nam
Italia
Polska
Brasil
Россия
Türkiye
Indonesia
Malaysia
日本
한국
简体
繁體
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing Support Priority Support Report Issue Ideas Published Followers Following Private Messages Chat Sign Out