I only use take profit / limit orders to close a position if it is not possible to watch the trade play out. I quite often find when placing orders to close a position that the target will be missed and a profitable trade is lost. This is how I would move my stop to protect profits if in front of my screens. It means I will not get out at the top but I will catch...
the 4 hour divergence on euro
what to look for using elliott wave ( on 1h and 15 minutes)
ending diagonal warns of reversal ( only to that specific time frame ) if you get an ending diagonal on 1 hour and then on 15 minutes as well the fall should be compounded
if you can learn this sl can be very minimal and support and resistance levels can be an addition...
if entering on 4 hour or 1 hour using macd and rsi this it what i believe you should be looking for -- a knowledge of elliott wave is needed --- the target tp 1 would have been the previous low or end of a wave marked with blue line.. for further tp you would have to do a more in depth analysis.
there would have been set ups on other usd pairs at the same time...
EURUSD retested 11663 zone where it reversed from 11669 on Friday.
Price breached resistance at 11750-11710 and back up above this zone,upside resistance:
Break above 11800-11830= 11850-11870 or upto 11900-11940 zone.
Below 11800-11830 then lower support zones:
11750-11710, break below 11660= 11610-11560.
On the weekly gold chart I am expecting a rest of the broken trendline as it confluences with a support level.
We may pull back through it so be carefull if you any any trades here but following that a restest of the recent wave high is my first target.
* Holding the mid 1.1900's, EUR/USD looks comfortable inside a range which looks set to play out until the FOMC mid week.
* Drivers all set to come from the US side this week, with the FOMC meeting in focus on Wednesday. Next ECB not till late Oct, and tapering expectations getting priced in - it's now a matter to what extent.
* On the downside, 1.1800-25...