About meI am Price Action Trader and mainly trade Forex pairs such as EUR/USD and USD/CAD. I trade without any indicators with the exception of occasional use of 20EMA.
I am a scalper and trade 5mins chart and monitor other time frames for long term direction
Joined 5 months ago
4hour chart is showing a wedge and it strongly reversed down. It is now in process of testing the top again. It is a good place for double top than breakout so it offers good risk reward ratio here.
Sell in the region of 1.118X with SL at 1.1210. target area is 1.1120 and 1.1080.
EU chart is in a triangle on 15mins chart but still posting higher lows. However, there is a potential trade for short on the breakout pullback and short entry. If there is a breakout to 1.1136 level an dthen a pullback to 1.1147 level then shorting with atarget os 1.1115 can be a good trade. SL
Hourly chart strongly broke above 1.1119 resistance and had good follow through on Friday. This breakout followed strong breakout on Thursday. However, this breakout is still within the trading range of last 4 weeks. Weekly bar currently overlap last 4 weekly bars so this could be a test of the top of the range. As ...