Trade Scenario 1: Immediate Bullish - For us to go long we need to see price retrace to our edge of value at 1.2030. We will then wait for price to find support and enter on strong bullish setups, first targeting previous highs around 1.2075
Trade Scenario 2: Bullish after Retest- For us to go Long after a retest we want to see price retest 1.2000. We will then...
Eurusd after rally from 1.1700 on 31 st march and made the high of 1.1998 on friday now area completely srong supply zone .
Now we will take short position at 1.1.950 to 1.1960 with stop loss of 1.2000 targets as 1.1850 and 1.1720
How do you read a candle?
The top or bottom of the candle body
will indicate the open price, depending on whether the asset moves higher or lower during the selected timeframe.
If the price trends up, the candlestick is often either green or white and the open price is at the bottom.
viceversa if price trends down.
Why Candlestick is important?
"Many are called, but few are chosen". Ever heard this proverb?
This is certainly true for trading, in fact, there is even a rule in trading about this, the 90-90-90 rule. So what does this rule say?
"90% of traders lose 90% of their money in 90 days"
That's right, statistics show that 90% of people who start trading lose the majority of their money in less...
". There is a possibility of temporary retracement to suggested support line (1.2155).
. if so, traders can set orders based on Price Action and expect to reach short-term targets."
. EURUSD is in a uptrend and the continuation of uptrend is expected.
. The price is above the 21-Day WEMA which acts as a dynamic...
IN ONE DAY TIME FRAME DOUBLE TOP FORMED
AND FORMED A SPINNING TOPS IN DAY TIME FRAME
ONE HR TIME FRAME SIDE WAYS WAIT FOR DOWN BREAKOUT AND WAIT TO COMPLETE PROPER RETEST THEN TAKE A SHORT POSITION
REWARD IS HIGH
THIS IS SWING TRADE SO TRY TO USE TRAILSTOPLOSS
With the bond rout at its peak since early 2020, EURUSD drops to the lowest in five months as traders await US President Joe Biden’s infrastructure bill details. However, a sustained downside break of a three-month-old falling trend line favors the pair bears. As a result, a horizontal area established from September 25, 2020, around 1.1610-1600, gains market...