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The Epic Preamble
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Hey there, currency cowboys and cowgirls! Grab your Stetsons and get ready for a rootin', tootin' ride in the forex rodeo, because it's FX:EURUSD week! We're diving into the labyrinth of the most traded currency pair on the planet, where the Eagles (USD) and the Sphinxes (EUR) battle it out in a mythical arena of numbers, trends, and Fibonacci spirals. It's not...
Ladies and Gents
today we are presenting a potential trading idea in the form of an inverted head and shoulders within an inverted head and shoulders.
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Today I have a very interesting setup on EURJPY. Current market structure and price action on higher timeframes (4H+) suggest a continuation on the move downwards.
The last candle on 4H may suggest a rejection but I argue that is an indication of doubt, meaning the wick of the 4H candle has a high probability of worked through in the hours to...
Today I have another very nice setup. Yesterday's trade (EURCHF short - linked in this article) unfortunately hit the SL, after adjusting it to breakeven. So no gain, no loss (I place the stop taking commissions and spread into account). Happy days!
RR on this trade is 1:2 (absolute minimum!). I am waiting for a clear break of the little support area...
I have spotted this setup on the 1H chart. Price is accumulation and seems to experience bearish pressure. Wicks at the top combined with the resistance area make me expect a little downside.
Nice RR on this trade 2.92!!
Breakeven as soon as price hits 1.5R.
Let me know what you think in the comments below :) Good luck!
I have spotted a really nice setup on NZDJPY this morning. Very nice price action and structure just switched to bearish. Reason enough for me to jump into a quick short position.
RR is 1:2 - which is my absolute minimum by the way. I prefer 1:3+ but 1:2 will do for daytrades.
As usual, once price hits 1R profit stop goes to breakeven.
Let me know...
I have a nice short setup today on EURUSD. RR comes in at 1:3 but if you prefer a more conservative approach you can stretch the stop to a more comfortable 1:2 RR.
Stop goes to breakeven as soon as the price hits 1R profit.
Reason for this trade is a shift in market structure. Price action seems to be bearish so I will follow my plan and open a...
I have spotted a real nice setup, suitable for intraday traders that wish to possibly squeeze in another trade before the weekend.
From a structure/pattern point of view I will be trading a possible inverted head and shoulders within an overall bullish environment. RR for this trade is 1:2!
As always, stop goes to break even as soon as price hits 1R...
based on the current market structure I believe that GBPCAd will continue its drop to the downside. The resistance area (big grey box) did its job.
The setup sees a 1:3 RR. I see the stop nicely protected by different layers of structure. More conservative traders could stretch the stop further and go with a RR of 1:2.
As always, stop loss goes to...
The long trade I opened this morning got unfortunately stopped out - looks like a nice stop hunt which took out a good few buyers I guess (stop slightly below the bottom).
I give it another go. RR 1:3 - Mind: I am already -1R on this one, so if it hits TP I make 2R overall.
Stop goes breakeven as soon as price hits 1R profit.
Good luck guys 💪
I have spotted this really nice setup on EURGBP. Nice bottom formed and structure as well as momentum seems to shift.
Based on that I will open a long trade if price re-tests the resistance/support area market as a grey box.
If price hits 1R profit I will move my stop loss to breakeven.
Let me know what you think :) Good luck.