We have been seeing some good up moves from this pair recently. As you can see from the chart we are near the top of the buy side move. There is a nice area to the left and we have now set out relative equal highs, so I will be looking for a liquidity grab above the equal highs and then a short term drop. From here I would like to see it push back up higher long term so will not be holding the position to long and taking profits at sensible times.
If we get this move then we will need to see how the market reacts at the pervious low before our next move.
The pair made a good bullish move. Upon finding its resistance, it produced a bearish engulfing candle in the daily chart. It may attract the sellers and drive the price towards the South. I am going to wait for the price to make a breakout either at the last swing high or at the current support.
sharabela posted: The pair made a good bullish move. Upon finding its resistance, it produced a bearish engulfing candle in the daily chart. It may attract the sellers and drive the price towards the South. I am going to wait for the price to make a breakout either at the last swing high or at the current support.
If it does push it down i feel itll only be temporary and EU are looking to adjust rates over the next few months too
The pair looks bearish to me as far as the daily chart is concerned. It produced four consecutive bearish candles in the daily chart followed by a bullish corrective candle. A bearish reversal candle may attract the sellers to go short in the pair and drive the price towards the downside.
The daily chart shows that the price gets caught within 0.84000-0.86000. A bullish breakout may push the price towards the North, which offers better risk-reward than the bearish breakout. Thus, I am eyeing to go long above 0.86000.
Ok so from last week I closed off my sell position in profit. With the drive down stalling and consolidating its time to look at the next set up.
Currently with GBP on bank holiday this week I will be looking for EUR to have some strength. We have relative equal lows and a fib retracement level to use as confluences going in to this trade. Where I have my entry we have an imbalance in price that would be good to be filled in this only needs to be 50% of the candle so looking at London open if we break down to the zone then Keep a close eye on market structure.
Remember key entry and price action will be needed. Make sure you use proper risk management when trading. Let me know how you get on.
I was looking for this pair to drop down last week but we never got the set up. Instead this pair came up and made relative equal highs and has broken back down quickly today. Using the fib on this set up I will be looking for an entry between 70% and 79% where we will break down in to the liquidity below and the imbalance in price. Ideally price will reach the 79% and the top of my grey box area which is the top of the last bullish candle.
Keep a close eye on market structure and remember key entry and price action will be needed. Make sure you use proper risk management when trading. Let me know how you get on.
Looking to take the highs out from last year and making good progress. With this pair I am overall bullish at the moment on the higher timeframes but will also be looking to sell it short term on the extreme moves like these.
Looking for the next area where we could get a reaction and to the left of the SL zone are relative equal highs and I solid amount of liquidity taken so would start looking for the short term retracement and the gathering of orders before the next leg up.
With any of these set up's we are looking at higher timeframe areas of interest and then dropping down to lower timeframes for entry's. Looking for a smaller TF break of structure and then retest of the area in to an entry move.
Key entry and price action will be needed. Make sure you use proper risk management when trading. Let me know how you get on.
Last week I managed to get on the sell of the break up and the retest back to the trendline. Now re assessing this pair you can see we are respecting the trendline to the up side. Also the red line marked out where we made the high has now left relative equal highs on the daily TF.
When looking at charts there are many things to take in to account but I like to look where is the liquidity. Here it is above the equal highs and below the break of the trendline. So I will be waiting on my hands to see which if these gets taken first and then look for the move to the opposite side.
Let me know what you think of this and I will get back to you with an update later on.
HIGH RISK WARNING: Valutahandel innebär en hög risknivå som kanske inte är lämplig för alla investerare.
Hävstångseffekten skapar ytterligare risker och förlustexponering. Innan du bestämmer dig för att handla med utländsk valuta bör du noga överväga dina investeringsmål, din erfarenhetsnivå och din risktolerans.
Du kan förlora en del av eller hela din ursprungliga investering. Investera inte pengar som du inte har råd att förlora. Utbilda dig om de risker som är förknippade med valutahandel och sök råd från en oberoende finansiell eller skatterådgivare om du har några frågor.
Alla uppgifter och all information tillhandahålls endast i informationssyfte och är inte avsedda för handelsändamål eller rådgivning.
Tidigare resultat är inte en indikation på framtida resultat.