you can further extend the target to a higher timeframe OB. but because there was a 1h demand below so be careful, the market could reverse from any point to fill that demand below, then look for 1m confirmation to enter the trade as there was an extreme demand was below there which was untested.
I hope you have a profitable week ..
OANDA:EURCHF
We can see a good bearish trend on this pair and I have personally been shorting this pair whenever the price comes to a supply zone. We could get another opportunity to short if the price moves to the green zone as shown above.
A good 1:2.5 RR can be expected if the entry criterias match up!
Many people including me start as a gambler in forex trading and trade until they lose it all.
But this can be avoided and a consistent income can be generated through forex trading if we follow few rules (no rule is perfect, I have made them using my exp, they might not be same for you)
-Maintain journal note book
-always enter target and SL or trailing SL in...
price is settling at the support bar and possibly bouncing back to the 0.50 level of Fibonacci retracement . looking for a buying OANDA:EURCHF opportunity in this pair on Monday. Have a nice day to all.
GBP JPY has a potential short trade in play. The market levels are key demand and supply areas where price is likely to react and turn around. Now that GBPJPY has retested the highs, there is likely to be a pullback to grab liquidity.
After the yesterday's 160 pips fall, EURUSD took great support at $1.0776 - $1.07574 levels for a good 78 pips pull back therefrom.
Saw some rejection, Retraced 50% and ended up forming a wedge with a $1.07970 low and $1.08236 high.
There was quite a resistance at $1.08070 levels, Breakout therefrom made the high of $1.08236.
(Which happens to be the 61.8%...
