This is my personal opinion and view of the market...
My own strategy suggests a sell, have some buyers trapped, expecting the triangle to breakout upwards, however I dont think so, I entered the position already as a short, this are my stats:
Entry @ 0.72609
TP @ 0.72101
SL @ 0.72905
Lately, I been going against the crowd. After 90% of all traders loose money, so I won't be going short in this one as many traders are at this level, but long. Just as how I did in my GBPJPY idea in which we took some profits home!
This one is only one take profit, more than 5% of sellers are under 0.8995, so the price will most likely go up in my personal...
We are never shown the real picture until its too late... If you ask me right now, ill never go short even if it seems like we are at a major resistance if you see it through technical analysis... Too many bears are at this small range (highlighted in purple), and so I believe they will be wrecked. Stop loss is tricky here, im just guessing...
Im personally shorting EURCHF at this time, a single take profit.
1) Sellers have open orders @ 1.075, which are real orders and not a spoof (type of manipulation) as they are resisting, so this is a real resistance level
2) There is a support @ 1.07450, however it does not appear in the order book. My best shot? Hidden orders, which means someone does...
Traps : When price is manipulated in order to capture liquidity, with misinformation, for instance in this case the buy orders @ 139.800 were completely hidden from the market, meaning information is not available at all for retail traders, why did they do this? In order to accumulate liquidity and give fake hopes to buyers, accumulating all positions with "Fake...
I believe we can find a huge resistance around 76.450, which can go all the way down up to 76, this might change however as buy orders might appear around this price.
I will take the majority of my profit at 1:1, then move my SL to break even, and let the trade run to see if we hit that 2:1 ratio.
Emiliano Mesa Uribe
I just entered a position in USDSEK for short. As both a Doji star, and a bearish engulfing have formed in the 2H inside this resistance area
Stop Loss : 9.42153
Entry : 9.38561
Take Profit : 9.26336
TRON is touching an important area of support right now @ 0.02728, and the price might move upwards all the way to the 200 EMA.
This is only an idea for crypto traders, im not taking any position as the ratio is only 2/1
Ill take this trade if the price follows this instructions:
1) Price reverses from the current position, all the way to an important support @ 0.98486
2) When at support, ill take the trade as following:
Entry : 0.98486
Take Profit : 0.99355
Stop Loss : 0.98276
Ratio : 4.14
Good luck and happy trading!
This is exactly how I believe NZDUSD is going to move:
1) Price will go down until 200 EMA
2) 200 EMA will act as support, and make it bounce all the way back up to resistance @ 0.66889
3) When the price touches resistance we will take the following position:
Entry : 0.66887
Take Profit : 0.66109
Stop Loss : 0.67057
Ratio : 4.5/1
Good luck and...
Ill enter the AUDUSD trade after the following steps are followed.
1) Price reverses back from 200 EMA to support at 0.69148
2) Then ill go long, following this info:
Entry : 0.6919
Stop Loss : 0.69081
Take Profit : 0.70171
Ratio : 9/1
Good luck traders!
Hello traders, this is how I will trade EURUSD if the chance is given.
1) Price must reverse and re-test support level at 1.12049
2) When price hits that support level this trade will follow:
Entry : 1.12049
Stop Loss : 1.11907
Take Profit : 1.12947
Ratio : 6/1