It looks like a prebreakout squezze on 4h and H&S type PA. Also a nice double top on daily. I may be a bit late but if I get triggered in - I play to daily 50EMA.
This is my setup. It is above strong weekly support line. So I am expecting some price movement to go up and down now, but not breaking support. Place order for entry and TP at daily support/resistance zone above. For my setup RR is roughly 2.5:1 but I might put SL a bit more loose because of possibility for some sharp movements.
Many experts already talking about this downtrend and I am expecting for trend to continue.
This is my setup. I already entered with 3 positions. I will move SL to BE if I hit TP1. If I hit TP2 I move SL to TP1.
I have an order for EUR/USD @1,0950 for a short scalp. I have a 11pip TP and 17pip SL... I know it is a bad ratio(0.65), but I believe that once we break our line order will be executed and closed in a matter of seconds - since I believe that due to market conditions and unpredictability of EUR/USD many peple will hit their SL at that lvl. For this reason I...
I am seeing a nice head and shoulders pattern on weekly chart... Its my first time trading on longer time frames so I will give it a go with very small size.
although patern looks very strong it is idealy 1.5:1 unless all weekly resistance/support levels get ignored on a way down.. Resistance on 1.53900 got retested on a 4h chart and now again it is showing a nice...