EURUSD Club - Get Your Trend Right

This forum/thread is created for simple reasons as the header says : Get your trend right
I believe improvement in trading comes from improvement in trend reading & and hence trades success rate.
Going up - Sideways- Going down as per Timeframe.
Post your trend direction for this pair & rationale supporting that.
Posting live trades is encouraged as supporting evidence.
Park trader's ego before entry : you can pick it up on the way out, if it's useful still
Thread Etiquette function is set to AutoWash:
Friendly Banter is welcome.

The pair is trending up on D1 at present with support on H4.

Depending on each indiviual trading style- i prefer to wait for a significant retracement to the dominant trend supporting TF before taking up a trade.
This gives a better price entry which can be much much better for yr Risk / Reward ratio and hence minimizes the Stop Loss.
This also gives you the opportunity to hold yr trade , if you would want that........

Yes it does mean patience .
Patience is the name of the game .
The less patient one is , more likely the failure with a trade .
The more patient you are , more likely to succeed with the trade.
Imagine a tiger , waiting in the grass for prey , and the prey walking closer and closer, imagine prey being the retracement .
Let it come to you ....... less effort spent to catch the prey/trade .
Conserve yr trading calories.... and yes this won't make you out of shape ..... rather make you more attractive ...... as a trader.

All the news released yesterday has created a new trend at present and pushing up D1.
My plan would be to wait for a significant retracement and avoid any trade till this happens...
This does mean lesser trades ... but also translates to you being on right side of the trend .... and trend will do yr bidding .... that can be a powerful friendly force to be on yr side....
This also means yr capital in the form of position sizing can have more protection from being stopped out.

Subscribed, you have always been a good market reader,

Welcome dele5000

There are always patterns hiding in lower TF when higher Tf seems bloated ........ hunt them out .

A megaphone pattern on M1 is quite clear amongst the H1/H4/D1 march upwards

One strategy is.........so i will be buying only as trend is upwards... waiting for more retracement .... on D1

Good day, I am also looking for buy, I am waiting to see what PA says at 1.22390 area , do you think it can go down more

In general , for me the price must retrace to a degree where stronger supports are and then display a strong signal , until that happens i stay patient.
This usually means deeper retracements and avoid the itch of jumping in on intuition.

That level seems to be on H4 supports , if you can get a good confirmation then you could , however the power & strength behind a support is important to me , which may not be ( IMO) as strong as to when it goes down further..... depends on how much pips is one after from a bounce.... R/R etc... lets see what happens...

Good time to find long opportunities....

Price has retraced to strong support.... trend will help you...
..always use confirmation....

.... price bounced off a strong support ...........
.... there are many ways to trade ...... i pick and choose the method / TF that i deem most suitable for price action..

..still going...
might close soon as per exit indicator....

trade closed for 34 pips .....
looking for more opportunities..... on sidelines for now....

One of the aims here is to find beginning of a trend with the most minimal sl possible .... with a better R/R

buy probability...