EURUSD broke through resistance, initially I wanted to take a position at the touch of the yellow box, but a rejection happened beforehand. Liquidity has been accumulated, and a rally is taking place.
Today is my trade set up , trend following See in picture about my plan. TF 1H, 4H
I buy with reversal candle It follow trend in bigger timeframe TP around high. (but i bet for divide order to runtrend 20-30%) SL at low
EURUSD broke out of consolidation and made a healthy pullback to the broken line. Now it could reach at least the previous top at the 1.2090 mark. If the 5th wave would be extended then we can see even higher levels in the 1.25-1.26 area.
As the trade #2, i go out of trade earlier (but hit the TP last night). Now it is not reversal, and go down again, so i sell following with trend RR = 2 in the picture.
I entry with the plan, double top and think it is wave C + LL analysis However, it hit my trailing stop of 10%. Feel bad about i cannot let it run. Will try to fix next trade.
How to trade? - HH candle stick, - Break SMA20 above.
EU Already exhausted in H4, now in down trend. I expect it will pump up after FOMC NEWS, and back bounce to bearish after testing the diagonal resistance.
I buy EU with the 1H reversal candle Pleas see in the graph The resistant is with the red line and the gap, that wait to break.
I entered at the grey line, but I don't post here regularly or on time. But here is an idea for you all anyway. You may want to wait and see how price reacts around TP1 area before actually taking profit there. Good R:R, so enjoy. Visit renforex.com for more if you are happy.
I but it with the alt. bat pattern. But, you see, it is a little RR However, i buy it a little size, If it can break up this line, i will put order more.
Two resistances intersecting at red circle - good odds.