Short term EU buy
So, this is my strategy moving into 2025. I'm a break even trader starting my 5th year in the hot seat.
I'll be trading a 50k demo right here on tradingview. 1% risk per trade, minimum r:r = 1:1.
I'm only entering trades on EU at this stage, however DXY and GU are always on my screen.
Timeframes: Weekly, Daily and H4, primarily focused on the daily, hence it is now necessary for me to take part in an end of day analysis.
My plan remains the same as Day 1: Get profitable.
Blue = EUR/USD
Green = DXY
Red = GBP/USD
The dollar is inverted simply because it looks better based on how I'm analysing.
So, the weekly has made a significant close lower across the board and the range of this candle is highlighted in gold.
After Monday's trading, the Euro has closed above its recent daily parent candle, signally potential further movement towards the upside. This can be confirmed when looking at the DXY which is harbouring relative equal highs at the weekly gap, a considerable draw on liquidity.
At this moment in time I can only wait and see how the market interacts with these htf areas of interest I have labelled.
I need to see some kind of event occur at a high, low or 50%.
I would imagine there will be further buys throughout the daily sessions, drawing up to the 1.05 zone.
I'm open to feedback and chill conversation.
I'll be trading a 50k demo right here on tradingview. 1% risk per trade, minimum r:r = 1:1.
I'm only entering trades on EU at this stage, however DXY and GU are always on my screen.
Timeframes: Weekly, Daily and H4, primarily focused on the daily, hence it is now necessary for me to take part in an end of day analysis.
My plan remains the same as Day 1: Get profitable.
Blue = EUR/USD
Green = DXY
Red = GBP/USD
The dollar is inverted simply because it looks better based on how I'm analysing.
So, the weekly has made a significant close lower across the board and the range of this candle is highlighted in gold.
After Monday's trading, the Euro has closed above its recent daily parent candle, signally potential further movement towards the upside. This can be confirmed when looking at the DXY which is harbouring relative equal highs at the weekly gap, a considerable draw on liquidity.
At this moment in time I can only wait and see how the market interacts with these htf areas of interest I have labelled.
I need to see some kind of event occur at a high, low or 50%.
I would imagine there will be further buys throughout the daily sessions, drawing up to the 1.05 zone.
I'm open to feedback and chill conversation.
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