Hello,
My idea on EUR/USD:
I see a long opportunity setting up for the next week. Recent sell zone was broken, going through recent sellers' startign point. I am looking to buy this on the pull back based on H4 chart.
First buy zone - around 1.2600.
Second zone - around the recent support ( it depends on the movement )
Let's see how deep it goes.
My idea on EUR/USD:
I see a long opportunity setting up for the next week. Recent sell zone was broken, going through recent sellers' startign point. I am looking to buy this on the pull back based on H4 chart.
First buy zone - around 1.2600.
Second zone - around the recent support ( it depends on the movement )
Let's see how deep it goes.
Comment:
Sorry. First buy zone 1.2360.
Comment:
I am still standing by. The price entered first buying zone but the movement looks aggressive. Judging from the H1 chart, we've some buying pressure but nothing yet. I would consider an entry if the price creates a bottom. In other words, holding around this zone and this was just a spike. Otherwise, I will wait for the next zone.
Comment:
The stalking for an entry starts now. Price just arrived at second buy zone where it reacted last time.
H4 shows breach through the recent seller. Wait a decent hold or slow downside test movement.
First potential target - 1.2400
The main target wil be the recent high.
H4 shows breach through the recent seller. Wait a decent hold or slow downside test movement.
First potential target - 1.2400
The main target wil be the recent high.
Comment:
This is how I see DXY:
Comment:
Test phase started. Looks strong. We can keep an eye on H1 if this seller cannot make it ( new lower low) on its way down. Any sign of aggression here will be a sign of entry.
I will be busy today but I will probaly check every hour this one.
I will be busy today but I will probaly check every hour this one.
Trade active:
I am in. I wasn't able to update in time. It is still in a decent spot to enter.
Looks like the price is not willing to fall and it is actually trying to make a lower high.
I've marked the spots where we should manage our trade.
Looks like the price is not willing to fall and it is actually trying to make a lower high.
I've marked the spots where we should manage our trade.
Comment:
Notice the reaction of the current zone. Respecting this small support area.
I meant Higher low - in my previous update.
I meant Higher low - in my previous update.
Comment:
The speed looks fine. The price is getting closer to a lower time frame resistance but I will keep the stop losses as I initially got in. In case it reaches 1.2400, we can take some profit there.
Comment:
I will be looking to add more positions to this one if I get a strong upside breach and pullback to it.
Comment:
Got stopped out on this one. Looks like it will be a bigger time frame pullback if 1.2200 is being breached.
The current movement looks really strong as it is getting closer to the first buy zone. I anticipate some kind of a slow down or a probe through it before taking a position . If I don't see such things or any signs of buyers coming back, I will be patient and wait the next important support area.