-Daily Chart >> Price bounced off support and closed above the daily 200 MA.
-4 hour chart >> Price bounced off support with a bullish pin bar on the 4 hour chart with stochastics on this chart also rising. Moving averages on the 30 min also crossed with price currently testing the 14MA.
-1 hour chart - On the 1 hour chart price is currently testing the descending trendline .
- Entering 2 small positions ..1st position is now as the price tested the crossed MAs on the 1hour....2nd position will be a buy limit if price retraces a bit more.. Both stoplosses will be a few pips below the close of the pin bar on the 4 hour chart. Expecting price to go to the resistance level 1.28073
Tomorrow (4 March 2022) is NFP so be careful when trading this pair. if entering before NFP.
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Disclaimer: The Trade setups are based on my analyses and ideas and they are not signals or trading advice. Do your own analysis before you enter any trade based on my shared analyses. Trades are entered once criteria is met....Remember trading is risky and we can't force the market in any direction..#ExercisePatience
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-4 hour chart >> Price bounced off support with a bullish pin bar on the 4 hour chart with stochastics on this chart also rising. Moving averages on the 30 min also crossed with price currently testing the 14MA.
-1 hour chart - On the 1 hour chart price is currently testing the descending trendline .
- Entering 2 small positions ..1st position is now as the price tested the crossed MAs on the 1hour....2nd position will be a buy limit if price retraces a bit more.. Both stoplosses will be a few pips below the close of the pin bar on the 4 hour chart. Expecting price to go to the resistance level 1.28073
Tomorrow (4 March 2022) is NFP so be careful when trading this pair. if entering before NFP.
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Disclaimer: The Trade setups are based on my analyses and ideas and they are not signals or trading advice. Do your own analysis before you enter any trade based on my shared analyses. Trades are entered once criteria is met....Remember trading is risky and we can't force the market in any direction..#ExercisePatience
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Trade active:
Trade went well. Although it never really retraced to activate the 2nd buy limit, that is ok. The 1st position is quite profitable and is a few pips away from take profit target. May consider closing just before target as the stochastics on the hour is over extended in the over bought region
Trade closed manually:
Closing position and taking profits. Price is over extended in the 1 hour chart and testing a level. No need to force the trade, already made over 100 pips from the 1st position. So we can close and take profits and end the last day of trading on a good note