It looks as if price will continue to travel downwards into the 1.093 level, and finish wiping away previous gains before rebounding and heading back up to 1.115.
Entry Long at 1.0925, and use a 24 pip stop loss, set at 1.0901. Looking to target 1.114
A while back, the 1.091 level worked it way up to 1.092-3 before we came up to the most recent highs, and should hold as a last resort support for the rebound. 5 minute chart shows me re-entering the trade short to finish out the target on a break, not waiting as I should for price to come back to the obvious downtrend line 🤦♂️, but that's ok, stop above the recent high/day open, target the red line at the top of the break out level, then buy at the bottom of the demand area/support area from the first major news break out. By the time price reaches the red line, it should be giving strong bullish signs it want to go back up tot the top of the channel again, and possibly break out higher.
Will trail the trade once it has moved a significant amount (1:4 +) a stop out grows the account and just find a new entry.
Entry Long at 1.0925, and use a 24 pip stop loss, set at 1.0901. Looking to target 1.114
A while back, the 1.091 level worked it way up to 1.092-3 before we came up to the most recent highs, and should hold as a last resort support for the rebound. 5 minute chart shows me re-entering the trade short to finish out the target on a break, not waiting as I should for price to come back to the obvious downtrend line 🤦♂️, but that's ok, stop above the recent high/day open, target the red line at the top of the break out level, then buy at the bottom of the demand area/support area from the first major news break out. By the time price reaches the red line, it should be giving strong bullish signs it want to go back up tot the top of the channel again, and possibly break out higher.
Will trail the trade once it has moved a significant amount (1:4 +) a stop out grows the account and just find a new entry.
Trade active:
Order filled 1.0925 fishook pattern on 1 minute
Comment:
Good little stop run, time to turn.....
Comment:
Second position in at 1.0958, since I have been doing well with these larger trades I'm using a little more position for them
Comment:
So far things look well for both positions. A lot of buying happened right after the second entry/last bottom out point.
In true EUR fashion I expect a small charge at the 1.0918 level to make a low challenge after the open, but the amount of buying between 1.091 - 1.0915 makes a support at the price break from that consolidation zone. 15-30 minute charts show a very abrubt stop and return, supporting the buyer strength. Price is now above the demand area, and above the demand area's support before it took off to the upside before.
Second entry at 1.0911* not sure what I saw typing the last, entry made at 17:40:24 market day time zone
In true EUR fashion I expect a small charge at the 1.0918 level to make a low challenge after the open, but the amount of buying between 1.091 - 1.0915 makes a support at the price break from that consolidation zone. 15-30 minute charts show a very abrubt stop and return, supporting the buyer strength. Price is now above the demand area, and above the demand area's support before it took off to the upside before.
Second entry at 1.0911* not sure what I saw typing the last, entry made at 17:40:24 market day time zone
Comment:
Ending the day, setting stop for both positions at 1.08955, well out of the way of a stop hunt and the overnight swap spread. Placed a net risk of 22 pips between both potions breakeven point
Comment:
Moving stops to 1.095, lock in 1.5r
Comment:
1.0956* looks like it will keep on going soon though for higher numbers
Comment:
Not getting a stop run in the trade entry are makes me suspicious of this run ending around 1.104... Ususally, when a direction is coming, the stop run happens just before, so we may not keep going once we get back to the top....
Comment:
We don't make it beyond here, it's a trend change and a head and shoulders neckline failure
Trade closed: stop reached:
Stops reached, price looks to be having a major breakdown and won't get much higher than this....
Comment:
+31 pips in one position, +49.9 in the other, counting as one position makes a net of 34.8 pips gained after swap and commission
Comment:
Not exactly saying reverse long term yet, but it does look like it will probably end the day where it started from, and them consolidate for a short bit. It just made 2 extreme runs very quickly, its tired....
Comment:
Another thing I notice is we have a triangle rom friday close to now, another possible sign consolidation is in the near future
Comment:
Tough call, triangle breakout failure, but still have the bottom up trend line, and looks like a large amount of demand at yesterday's break-up level around 1.094-5. I'll work on my script some more and if I'm awake when it makes the move I'll make an idea on it, but thinking long from 1.095 most likely
Comment:
Wow not much progress today, right back where we started.... Lot of buyers making their way way up, but a lot of sellers still pushing strong. May see a slight break of the high, but I think we're going to be somewhere around here to finish the day today. Taken a few scalps but nothing real big coming yet I don't think. Looking at indicators, it's giving mixed divergence from both sides, so have to wait on a clear break to make a direction, but we have a pretty clear range boundary now
Trade active:
Strong commitment to the upside, position at 1.097 stop at 1.0945 in the bottom of the stop run, let's see if thing takes off now
Comment:
It's happening fast, so just using this idea to continue 🐒
Trade closed manually:
Closing the IDEA, NOT the Trade. Trade is still active.
Continued in a new idea to explain why I took the position and show what I'm seeing.
Continued in a new idea to explain why I took the position and show what I'm seeing.
