EUR/USD: Breakout trade, going long on a retracement!

FX_IDC:EURUSD   Euro / U.S. Dollar
219 9 7
This idea is a direct result from my previous analysis https://www.tradingview.com/chart/EURUSD/2v8DAJSN-EUR-USD-Breakout-imminent/

I will go long after a retracement to get a better entry level. My buy limits are in place but one could also wait for a confirmed bounce off the trendline (or a possible breakout and alternative reversal scenario!).
My 2 targets are at previous structure levels (the coloured channels). SL will be below the current "up" trendline that has formed (which could turn out to be more/less inclined as the one I drew!!), hoping it will hold. The SL is also below a previous structure level and the 1.1200 level (some extra wiggle room).

As long as the up-trend contninues I will be looking to add to my positions (after e.g. a bounce off the trendline ).
The red arrow scenario is a possible extension, to be bought into after retracements, only if the current up-trend continues...
Arrows are ofcourse only there for illustration purposes and in now way aspire to be predictions of the possible move up!

I will be watching out for signs of a possible false breakout and reversal scenario, i.e. when for instance the trendline doesn't hold I might be looking for shorts.
Anyone who had this trade open during FOMC rate decision would have made good profit!
I didn't...
Target 2 almost met, taking profit now could be smart before PA retraces. Good re-entry possibilities might come after a possible retracement!
Waiting now for the FOMC rate decision...
I think we witnessed some stop-chasing since the opening, rode down the retracement from 1.1354 fo a quick scalp :-), PA stalling now so taking profits...
Hope it goes down deeper though so I can get a good entry for a long..., currently aiming at entering around 1.1330, 1.1308 and 1.1285.
If we go down deeper then we might be breaking the current "up" trendline which could make me reconsider my upward bias for the next days...

Missed the entry on this one by 5 pips... damn shame, target 1 was hit....
Looking for re-entry.
Small scalp, for my diary, leaving a small part open in case we don't retrace and I miss the entry for the move further up (target 1.1325):
Target 2 reached on the scalp.
Just closed the remaining small (regretfully...)part of this scalp, right before the weekend closure, may be foolish but oh well better be sure to book some profit...
I also entered a buy limit order for re-entry long at 1.1305, SL @ 1.1275, 1 TP @ 1.1447.
Will be watching PA closely after the opening on Sunday evening and I might enter long at market at a higher level if I suspect the retracement could again be limited.
I'm still a bit pissed that I missed the entry earlier today, so close, only 5 pips, damn, damn...
For my trading diary: I'm also trading the possible retracement down, sell limit @ 1.1295 and 1.1300 down to 1.1245, SL @ 1.1330. R/R 1.43 and 1.83.
Based on divergence on the 15M and 1H (not yet fully developed...). Not without risk this one, for more agressive traders!!
Risking only 0.5% on this one.
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
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 My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out