Last entry was a little too soon, but taking a look at the overall picture, we have a clear level that's held around for a while in the past, and seems to be where the tails are touching. This shows where buyers are most likely waiting.
With close of the day coming soon, I would expect the open to behave as the usual eur does, and slide downward to challenge the demand at the 1.092-3 area before coming back and punching through. The triangle pattern will likely work as a double fakeout, but the next drive should be enough to clear the upper two resistance levels nearby.
We have a cup and handle style pattern, just in reverse with the handle being on the left, cup on the right, with some liquidity runs inbetween.
Looking at the 5-30 minute chart, one candle engulfed several in a way that's showing strength unlike all the rallys before. This will get some people in, like I was, and then take their stops to have enough for a run topside.
Next resistance beyond 1.104 is around 1.115, looking to target the 1.114 level, with half the position targeted for 1.106 and the other half hold to target.
With close of the day coming soon, I would expect the open to behave as the usual eur does, and slide downward to challenge the demand at the 1.092-3 area before coming back and punching through. The triangle pattern will likely work as a double fakeout, but the next drive should be enough to clear the upper two resistance levels nearby.
We have a cup and handle style pattern, just in reverse with the handle being on the left, cup on the right, with some liquidity runs inbetween.
Looking at the 5-30 minute chart, one candle engulfed several in a way that's showing strength unlike all the rallys before. This will get some people in, like I was, and then take their stops to have enough for a run topside.
Next resistance beyond 1.104 is around 1.115, looking to target the 1.114 level, with half the position targeted for 1.106 and the other half hold to target.
Trade ist aktiv:
Single entry taken at 1.0945, ready to move up big I think now
Kommentar:
setting to break even, original order with stop still in
Kommentar:
*1.0955, some gain, target to 1.1025
Kommentar:
1.0966 in case it comes back off the last high support
Trade geschlossen: Stop wurde erreicht:
Quick 21 pip gain, still thinking the 1.0925 is the entry
Trade wurde manuell geschlossen:
Removing the order. Volume is going down soon and it will be around this area Monday I think. It doesn't look like it will go still, just raging with volatility, but staying flat for the close near where Monday ended
Kommentar:
Lack of a stop run has me still thinking 1.0925, order back in place....
Kommentar:
We have the conditions.... I'd bet everyone holding in from last week (I know it's loaded, look at the open, wow....) Stops are probably camping around 1.095-6, we dip back into the range we left and didn't really run from, hit the stops, and it's a wrap...
