EURUSD fell during yesterday session, closing in the red, below the 10-day moving average and in the middle of the day’s range. The pair is still consolidating between the top 1.1450 level and the 1.1270 level on the bottom. The currency should continue in consolidation mode until we see a clear break off a support or resistance with an impulsive candle.
honeill posted: EURUSD fell during yesterday session, closing in the red, below the 10-day moving average and in the middle of the day’s range. The pair is still consolidating between the top 1.1450 level and the 1.1270 level on the bottom. The currency should continue in consolidation mode until we see a clear break off a support or resistance with an impulsive candle.
during this hour, the low from yesterday was traded through, but NOT the low from last Friday (1.1276 on our charts) Because of this fact, the high from yesterday (1.1395 on our charts) becomes a major entry price point. Important to note is, that prices have to stay at least 1 pip above the low from Friday.
Take the high from yesterday (ask price) and add 1 pips for a buy-stop entry. This will also be a valid entry on tomorrow's bar, provided that the low of last Friday is not touched.
A good place for the SL is 1 pips below the low of Friday which is 120 pips below the entry price in this scenario.
To calculate the proper lot size for this trade, the risk one is willing to take has to be determined first.
This is how the lot size needs to be calculated: Capital: 1000 (use any amount) Risk: 2% of capital (use any percentage)
Capital (times) Risk (divided by) stop-loss 1000 * 0.002 / 120 = 0.02 standard lots - or - 1000 * 0.02 / 120 = 0.2 mini lots -or- 1000 * 0.2 / 120 = 2 micro lots
This is the best way to preserve your trading capital and should be used for every trade. NOTE: this calculation is only valid for currency pairings that end with xxx/USD for other currency pairings, the value of one pip has to be figured into the calculation
EUR / USD fell yesterday. The pair continues to oscillate between 1.1287 support (S1). 1.1439 and the resistance (R2). With strong employment data in the US for January, it is likely that the EURUSD drop below the S1 barrier. The broader trend is downward. R3 - 1.14852 R2 - 1.14395 R1 - 1.13861 Daily Std. Pivot - 1.13404 S1 - 1.12870 S2 - 1.11879 S3 - 1.11879
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