Buy above 1.1120. Stop loss at 1.1106. Take profit at 1.1183.
Reason for the trading strategy (technically):
Price has dropped strongly since yesterday. We remain bullish above 1.1120 support (Fibonacci extension, Elliott wave theory) for a push up to at least 1.1183 resistance (Fibonacci retracement, horizontal overlap resistance).
Stochastic (34,5,3) is seeing...
On the daily time frame we have a very nice setup that can go either way. Ranges are narrowing very well, now we wait for a break of one of those ranges. So just be patient the next days and wait till a daily candle close will break one of the sides. Now we this happen I also check on the 4 hour time frame if it shows in the same direction as the daily for a dual...
FX:EURUSD
Our previous buy:
Buy at Market Price EUR/USD
Timeframe 150m *
Stops at 1.11439 (35 pips)
1st target at 1.12115 Close half/portion position size and move stops to entry
2nd target at 1.12396 Close a portion, close all or set a trailing/dynamic stop
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Update:
Update for Eur/Usd Buy Setup:
1st...
Hello traders!
#EURUSD still has the strength to continue its trend in order to enters its strong supply zone.
We would expect about +250 pips with this trade.
Goodluck!
Sell below 1.1300. Stop loss at 1.1380. Take profit at 1.1080.
Reason for the trading strategy:
Price has reached our selling area and is reacting off it perfectly. This week we remain bearish below major resistance at 1.1300 (Multiple Fibonacci extensions, Elliott wave theory, horizontal swing high resistance, bearish divergence) for a further drop towards...
Sell below 1.1203. Stop loss at 1.1243. Take profit at 1.1107.
Reason for the trading strategy (technically):
Price is now testing our resistance and right on our selling area. We remain bearish with price breaking a major support-turned-resistance line at 1.1203 (Fibonacci retracement, horizontal overlap resistance) and expect a stronger drop to at least 1.1107...
EURUSD looks like it reached some important resistance. Longterm forecast is still bullish but this needs to either correct itself or be stuck in some sideways actions for the days/weeks to come. See chart for more details! SHORT it is for us.
Trade safe!
Sell below 1.1203. Stop loss at 1.1243. Take profit at 1.1107.
Reason for the trading strategy (technically):
Price has dropped perfectly from our selling area as expected. We remain bearish with price breaking a major support-turned-resistance line at 1.1203 (Fibonacci retracement, horizontal overlap resistance) and expect a stronger drop to at least 1.1107...
--UPDATE--
Yesterday's session has given us another opportunity to go long with the Euro-Dollar pair. With the upcoming Euro economic event(s), this signal may partake with the saying "buy the fact, sell the rumor." The pair also made a lovely double bottom suggesting another push higher.
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From the recent upward push with the trading signal of the...
Sell below 1.1264. Stop loss at 1.1301. Take profit at 1.1159.
Reason for the trading strategy (technically):
Price continues to test our resistance as it shapes up nicely for a drop. We remain bearish below major resistance at 1.1264 (Fibonacci extension, horizontal swing high resistance) for a further drop towards 1.1159 support (Fibonacci retracement,...
From the recent upward push with the trading signal of the fakey price action bar wherein I called for a long set-up, the EURUSD pair have yet again consolidated just few pips below the strong resistance ahead.
With upcoming EUR economic data ahead, these are the several pathways this forex pair may go through.
Pivot: 1.0835
Preference: long positions above 1.0835 with targets at 1.1300 & 1.1465 in extension.
Alternative scenario: below 1.0835 look for further downside with 1.0675 & 1.0560 as targets.
Comment: the RSI lacks downward momentum.
Supports and resistances:
1.1615 **
1.1465 ***
1.1300 ***
1.1270 Last
1.0835 ***
1.0675 ***
1.0560 ***
Sell below 1.1264. Stop loss at 1.1301. Take profit at 1.1159.
Reason for the trading strategy (technically):
Price has reached our selling area and is testing that level. We remain bearish below major resistance at 1.1264 (Fibonacci extension, horizontal swing high resistance) for a further drop towards 1.1159 support (Fibonacci retracement, horizontal overlap...
