ForexTurtle
Long

E$ : buy above today candle.

FX:EURUSD   Euro / US-Dollar
E$ : did a very nice double bottom .... (I missed it), did a bullish neckline break, consolidated back at the neck line - then continued up further. All three major SR regions have been identified.. and Price moved a textbook path. I except consolidation now.. until FOMC minutes and then price to move up. Any movement up above the running 4H candle should be taken as a buy signal to about 1.2600 in near future.
Trade ist aktiv: Trade is active when it moved above the slopping line. We can expect a retracement to the slopping line and then further up. Those who missed will have a fresh entry there. Good Luck ahead.
Kommentar: There appears a rejection at higher levels. Any one in the trade should try to being SL to entry... or exit. It appears to have a correction and we get a better entry at lower levels.
Question, in consolidation, don't you kind of expect a sideways move? I see a sellout here, as if all the bulls are scared of FOMC
Antworten
ForexTurtle FXStruggle
@FXStruggle, Yes. If there is a consolidation phase .. it would be of few weeks since the we had a good steep rise. The crowd view is (1) consolidation (2) correction. But I guess market will move against the crowd. Also I you notice the monthly chart this price region did not have any major consolidation, its was covered swiftly. Lets see .. how things workout... less than an hour to go.
+1 Antworten
ForexTurtle ForexTurtle
@FXStruggle, and I have mentioned that buy signal for new trade is only when price goes above the previous 4H candle. I do have running bullish positions.
+1 Antworten
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