STOP HUNT ALERT! Chart Awareness & EURUSD | 1.2020 is a hotspot
I said two weeks ago we may get a trap move the first week of March. Keep in mind it is NFP this week as well. 1.2020 has been such an active spot over the last 30-60 days for EURUSD. Check my prior posts.
At the moment I don't have a bias on EURUSD and I will most likely be sitting out today, I want to see more behavior from price. If I had to choose a side I am still bullish until 1.1980 breaks.
I feel like what the market is presenting right now is a great opportunity to practice chart awareness.
NOTE: These stop losses would be sell orders, since the breakout traders were long.
If we hit these stop losses by Tuesday we will have a double top pattern forming, this will trigger more traders short...but don't forget NFP is around the corner.
I think this could be a great opportunity for a market maker to buy up orders at a discounted price. The double top trades would also be SELL ORDERS
I don't have enough money to move the market, so just because I think this is a good chance to buy, doesn't mean it is, I need to see the actual market markets get involved, I only attempt to mimic them.
1.1980-1.2020 is a buy zone I'm watching.
IMPORTANT NOTE: February also broke Jan's low but failed to close below it on the monthly.
At the moment I don't have a bias on EURUSD and I will most likely be sitting out today, I want to see more behavior from price. If I had to choose a side I am still bullish until 1.1980 breaks.
I feel like what the market is presenting right now is a great opportunity to practice chart awareness.
NOTE: These stop losses would be sell orders, since the breakout traders were long.
If we hit these stop losses by Tuesday we will have a double top pattern forming, this will trigger more traders short...but don't forget NFP is around the corner.
I think this could be a great opportunity for a market maker to buy up orders at a discounted price. The double top trades would also be SELL ORDERS
I don't have enough money to move the market, so just because I think this is a good chance to buy, doesn't mean it is, I need to see the actual market markets get involved, I only attempt to mimic them.
1.1980-1.2020 is a buy zone I'm watching.
IMPORTANT NOTE: February also broke Jan's low but failed to close below it on the monthly.
Comment:
Looking for Daily candles to behave like this as we approach NFP.
Comment:
Expecting price to rotate around these two weekly lows for a day or two...plus the market usually slows down wed/thurs during nfp.
We also have stimulus checks in the mix.
If we get a daily fractal that will be a good confirmation for a bull run.
If we get the fractal, I will be looking to buy a trap move.
Everything depends on today and tomorrows close though.
PRICE COULD VERY WELL JUST SH*T THE BED. This is speculation right now
We also have stimulus checks in the mix.
If we get a daily fractal that will be a good confirmation for a bull run.
If we get the fractal, I will be looking to buy a trap move.
Everything depends on today and tomorrows close though.
PRICE COULD VERY WELL JUST SH*T THE BED. This is speculation right now