With some Take Profit Areas
Im just using a support resistance indicator thats free on trading view. I put these a little above the areas
Im trading small with a 30 pip stop loss and will hold to sl or tp.
Daily Double Top
4 Hour Double Top
I waited and entered after I saw a 15 Min Double Top
And Then I kept waiting until I got a Ema Crossover.
I used 12 and 21 Ema and Heiken Ashi Candles.
I traded very Small And I have a 30 Pip Stop Loss
I will hold until Tp or Stop Loss
I will not close because of news.
I will sleep tonight. lol
If I lose , I will not be...
I opened a sell with price above the 20 Sma on hour 4 and I paid dearly. Not only that , I made a mistake of opening a sell WHILE PRICE WAS APRROACHING RESISTANCE AND MOVED MY STOP LOSS.
Price then dropped 100 pips and spiked 100 pips.
Im not trading this pair this week
Pullback is probably finished. It could range around all night before moving. May not even move until New York Session.
Price is below the 20 SMA....
Stimulus Vote Tuesday is the last chance before the Elections to get a Stimulus Passed for the People. It will probably happen!!!!
So Im Bearish
So we have nearly the same situation as Eur/Usd but Eur/Jpy is more clear.
1. Your looking for a buy almost immediately
2. When The Candles touch the 20 Sma , I will take profit on 1 small position, and leave the second small position with my stop loss moved and try to hold it.
3. If I see price rejecting around the 20 Sma on hour 4... and I see 1 red heiken...
Price fell to the 618 Retracement level
This level is usually an area where price reverses.
But we are HEAVILY BEARISH ON the daily time frame.
1. So if its just a pullback, it will move up around 35 to 40 pips and then fall again.
2. If this reverses from the 618, your looking at a 100 pip buy trade.
1 or 2 of these things will happen and nobody in the world...
If you traded this with me your holding in profit.
If your not trading with me , and looking to sell....
We crossed under and closed below the 20 Sma
If you wanna see yesterday's analysis , just click on links to related ideas below.