EURUSD Bullish Continuation - Long Trade - waiting to enter
Hello all
Following the USD strength heading into last Friday and the pull back - I am expecting USD to potentially stay strong for the next day or two until the FOMC on Wednesday and the USD to weaken considerably. (after some stop hunting.)
I am looking to go long at this level - which is a 61.8% retrace of the current leg higher.
EURUSD is cycling higher nicely
Sadly I moved my stops too high on the related trade below and it took me out before heading higher. - Always important to trade multiple pairs and types and I was long on Gold through last week which made up for it.
I am expecting this to go higher for another leg - however it could be a messy start whilst it happens.
I have put my stop loss below the 78.6% retrace area - however potentially this could drop all the way to the lows and create a double bottom before heading higher again.
I am waiting for price action in this area - bullish engulfing candles on this occasion and once I get one, I will be in.
Thanks for looking at my trade idea.
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you can also see my capital growth over April and May too. Risking just 1% per trade.
The site will be fully live in less than 2 weeks.
Following the USD strength heading into last Friday and the pull back - I am expecting USD to potentially stay strong for the next day or two until the FOMC on Wednesday and the USD to weaken considerably. (after some stop hunting.)
I am looking to go long at this level - which is a 61.8% retrace of the current leg higher.
EURUSD is cycling higher nicely
Sadly I moved my stops too high on the related trade below and it took me out before heading higher. - Always important to trade multiple pairs and types and I was long on Gold through last week which made up for it.
I am expecting this to go higher for another leg - however it could be a messy start whilst it happens.
I have put my stop loss below the 78.6% retrace area - however potentially this could drop all the way to the lows and create a double bottom before heading higher again.
I am waiting for price action in this area - bullish engulfing candles on this occasion and once I get one, I will be in.
Thanks for looking at my trade idea.
DuncanForex.com is live with the opportunity for you to subscribe to site news and be eligible for discounts on training courses.
you can also see my capital growth over April and May too. Risking just 1% per trade.
The site will be fully live in less than 2 weeks.
Trade active:
Trade live - entered at 1.1210 once double bottom was formed this morning
Comment:
took a second entry at 1.1232
Trade active:
Hello Al,I have opened 3 more positions all at 1.1200 ( 5 in total)
Stops are at various positions below 1.1170 area
If the FED does what I expect, after some see-sawing - I expect EUR to fly higher.
Targets are staggered up to 1.1440 area which is a Fibonacci extension of the original 61.8% retrace to the current level
Stops are at various positions below 1.1170 area
If the FED does what I expect, after some see-sawing - I expect EUR to fly higher.
Targets are staggered up to 1.1440 area which is a Fibonacci extension of the original 61.8% retrace to the current level
Trade active:
Trades still live - all trades going well
Trade active:
Trades still live, lets see if they reach the top target
Comment:
stops moved to 1.1382 area to lock in profit
