Hi seniors,
I'm new here and this is my first post. I've been following this thread for awhile and I'm here to learn from all you senior folks here.
I believe everyone has their reasons for holding a certain position.
Let me start by sharing my own view on the pair and hope I get kind advice from you
My near-term bias will be long for the next one or two weeks.
Reason 1: The down move from 1.3990 seems to be losing its steam for now. (1st dip= 250pip, 2nd dip= 81pip, 3rd dip=70pip)
Reason 2: 1.3647 seem to have really strong buying strength as it reversed and engulfed the whole of the 3rd dip in one forceful move up.
It seem to me that 1.3647 is possible bottom that's worth betting on, therefore I'm currently holding long position, and have buy orders all over the 1.3647-1.3712 region. Consolidated SL just below 1.364x and TP 1.3810.
Total potential risk = 1% of account balance
I'm new here and this is my first post. I've been following this thread for awhile and I'm here to learn from all you senior folks here.
I believe everyone has their reasons for holding a certain position.
Let me start by sharing my own view on the pair and hope I get kind advice from you
My near-term bias will be long for the next one or two weeks.
Reason 1: The down move from 1.3990 seems to be losing its steam for now. (1st dip= 250pip, 2nd dip= 81pip, 3rd dip=70pip)
Reason 2: 1.3647 seem to have really strong buying strength as it reversed and engulfed the whole of the 3rd dip in one forceful move up.
It seem to me that 1.3647 is possible bottom that's worth betting on, therefore I'm currently holding long position, and have buy orders all over the 1.3647-1.3712 region. Consolidated SL just below 1.364x and TP 1.3810.
Total potential risk = 1% of account balance