EURUSD in a TIGHT SPOT (15min Chart) !!!
Mornning All,
Looking for any setups and I’ve noticed that EUR in particlaur is in a rather tight spot. After a brilliant up movement yesterday on this Pair (that I know one of our students Izak took full advantage of) it has re traced somewhat over night. In doing so, the Pair has moved below the 50 ma and at present is sitting on strong support (intra day Pivot). As you can see from the chart attached below.
My strategy has given me a signal to SELL.My RSI has broken the 50% line BUT it looks like it will turn. This will occur because the Pair has tested the strong support line. So could see a re-test of 50ma before we probably see further movement to the downside. Those of you who are quick off the block could have put in order to go SHORT at the close of the previous candle (our signal candle) with your stop above the previous swing low (around 14095). 1st target would be around 14026 (200ma) which happens to be another intra day pivot line. 2nd target around 1400 line and 3rd 1396 area…
Those of you who would want to see a definite confirmation signal to indeed SELL would wait for the Pair to CLOSE BELOW the support area at 14064 before entering your trade.
I would do the latter and WAIT for a definite confirmation that this is a SELL. Too much congestion between 50ma and strong support at the moment. I would rather wait to be given a CLEARER signal that this is moving in the direction I think it will be going. Too many people get caught out in situation like this. My strategy has given me a signal BUT there is too many obstacles(mentioned above) at the moment to make it a genuine signal. This is where a CHECKLIST must/should be used. I’ve seen it countless times where one see signal and jumps in without checking to see if it’s a genuine one….. Let’s see what happens with this one!!!
Please ensure that you do your analysis prior to entering any trades. It’s vital that you do this analysis before hand.There is no need to rush your trades. Patience is key in trading !!! Learn to be patient and you will certainly become a better trader.
Have a brilliant day.
Grab & Run Trade on EURUSD
Hi,
Just wanted to update you with a trade I’m in on EURUSD,
The Pair has broken above 200 ma on HOURLY CHART. Break above this early this morning and has now found support (7am GMT). Long signal , Pair above 200 ma , look at next pivot line at 14020.
My Strategy gave me an entry signal the candle high on signal bar (13988). 1st target is 14020. 2nd target @ 14065, 3rd target @ 14105….
Until next time, trade Serenely !!!
EURUSD – Squeeze Pattern on DAILY CHART
Morning Guys,
EURUSD squeeze pattern formation. This has been forming over the past week or so. Price has consolidated after a BULLISH since mid April of this year. The Pair has pulled back to the 50ma (light blue line on chart).RSI has moved back over the 50% line. The pair needs to be trading ABOVE 14200 to be a potential LONG signal OR trading BELOW 13825 to consider going SHORT.
Please ensure that you are doing your own analysis prior to trading at any time. It is very important to have good trading skills BUT it is paramount that you have BETTER money management rules to compliment your trading style.
Here’s to a great trading day
EURUSD – DAILY CHART SETUP
Morning All,
Please refer to the chart posted below for an update on EURUSD setup.
Notice how the Pair has formed a squeeze pattern on a DAily chart time frame. We are expecting a ‘breakout’ wither way. My signals are still pointing to a ‘bullish’ move – BUT we have to see the Breakout and close have to happen to the upside for this to be set in concrete. Either way – The next candlestick move would have to ‘close’ above or below the squeeze. Then we would work out our entry and stop loss, and trade accordingly.
It would be best to have at a 4hr time-frame or hourly to look for any ‘indication’ that we are seeing a ‘bullish or bearish’ indicator to help us get a idea what the direction could be.
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