EURUSD MultiTimeFrame

EURUSD approaching Breakout Mode at some point intraday. On the daily chart we see a Two-Bar Reversal, which is a strong signal and gives and entry price that is worse than previous two reversal signals at the Double Bottom lows, which means buying pressure. Either this reversal will fail or produce an entry on the daily chart and possibly lead to a bull spike. Looking at the Buying Pressure today, I believe the entry is more likely to be triggered than the signal failure right away, so going long. May go up to the entry trigger point or the descending triangle Trendline and then likely fail.

5: A Wedge Breakout Failure, Bar 5 is Reversal Bar. Exited half of position, stopped out of rest near BE. Still looking to fade the reversal. If a Wedge Breakout Failure fails, it may lead to good spike up.
6: CLOSED: Got back in long and stopped out.

Looks like buyers gonna buy until they're told not to. Tried to go short in the morning, but then switched to long as the selloff stalled.

On H1 the bear spike AB was a spike, but it got a lot of overlap in the middle, and the breakdown from there didn't work, as bulls keep grinding higher. So we're in a clear range situation, meaning Buy Low Sell High. In the current range the next magnet is the highs of that previous overlap/congestion area, and a break above could lead to a nice stop flush. Look slike bears are cautious before a meaningful top has been set in. So will try to play long until then.

The hour closed and we can see an Outside-Inside-Outside body setup, bodies slightly trending up, a High Three setup for bulls, but too dangerous to buy, because lots of overlap here, will wait for some more clarity.

Added to the long on the breakout on tickchart, but no follow through. Tightened stops to exit all.

Stopped out, but re-entered Long. It's such a chop that it's meaningless to count any bars. But a breakout is about to occur as volume keeps rising and the range expanding a bit. I think long.

How bulls see it -- a pending trendline break. There was one fake breakout and they're coming at it again. Are bears gonna fade right at the trendline this time? We'll see, I doubt.

Bears did fade, but on very thin volume, clearly just a vacuum down. Bulls still likely accumulating, not going for the breakout just yet. Expecting choppy sideways up action, then a breakout.

Got stopped out, re-entered with bigger size and took a hit on this one.

A year of very sporadic trading has passed. Did not post anything because my trading was too sporadic and, admittedly, sloppy around 70 pct of the time, much of it on the smartphone, often in violation of my adopted method. Still no 'big _exponential_ break', although it seemed well under way on a few occasions. However, went back to the baseline every time before reaching an account size that would allow 'trading for a living', but at least it feels like a real possibility now. The good news is I don't have to top up my account that often or that much anymore. The break will come .

OK, back to the method. As per Brooks Price Action, the doji is the classic trap. It may or may not work as a reversal signal (considered a weak signal by Brooks), but it doesn't work more often than it does. The doji represents a range: the price went one way and then went back the same distance or a bit more. If this happens within an hour, you get a doji on H1. If this happens within 15 minutes, you get a doji on M15, and so on. In effect this is actually a range and, according to Brooks, you don't want to sell at the bottom of a range or buy at the top of a range, which is what trading a doji reversal would be.

Today we see an interesting juxtapposition of two dojis on D1 on EU. One is evident (the candle of Yesterday), and the other is hidden (you don't see in on W1, because it is a 17-day doji (range): the price went down in a pullback and then back up in a breakout above the previous trend high. So a 17-day doji (range) is pitted against a 1-day doji (range). What if that last one-day doji range is just some profit-taking by the bulls in a very strong bull trend. They may not be done pushing yet as they still have huge positions and profit leverage to be able pursue more. No strong break of bull trendline or the moving average yet to warrant long-term shorts on D1.

The technical trigger point for fresh shorts on D1 is 1.1943, but even that may turn out to be a trap given the weakness of the doji signal bar, so I'm looking to buy down to 1.193 upon any strong bull setups.

So the bears have approached their D1 trigger level of 1.194. Looking to buy any signs of bear failure. On H1 we see some bulls stepping in front of their ultimate trendline, on M15 we see a Wedge Breakout attempt by bears, and on M5 it's bear trend turning into a range.

Bought above Signal Bar 1, can be seen as a Higher Low Major Trend Reversal or simply Wedge Reversal in a tight range. Bulls going for a break of the wide bear channel trendline. OUT bear BE, but re-entered on Bar 4.

No pretty looking setups either way yet. But if bulls get a breakout above the bear TL, those who have been waiting to buy lower will be forced to chase, may produce a spike to stop out fresh bear chasers who still aint getting much for their money. Provided bears don't just dump again, of course...

Bar 5: Inside-Outside-Inside bull, also a High 1 on Bar 3 Breakout, a Tight Trading Range overall, Breakout Mode, can go either way, better to wait.
Bar 6: Inside Inside bear, a decent Low 2 (or Low 3) setup for bears, but not taking it as currently long.

Bar 7: Inside-Inside-Inside, even tighter Breakout Mode
Bar 8: Both bull and bear breakouts triggered and back in the Tight Range with a bull close, looks like bulls stepping in front of their Micro Trend Line.

Bar 9: Added to the long.
Bar 10: Bull Breakout, micro scalp in and all set to BE, don't want to see that bull Micro Trend Line broken again.

Stopped Out in tiny profit, this trade over. Waiting for more price action to unfold.

SECOND TRADE

Bar 12: Two Bar Reversal of Tight Trading Range Breakout (Failed Breakout) and Micro Trendline FBO, bought the close.

Stopped Out -- bear dump, not unexpected. Stepping aside for now.

Seeing a strong bull signal bar after the bear climax.

Bar 1: Two-Bar Reversal on an inside bear bar wit unsure follow through. Entered long on the tick chart plus one pip above the signal bar. On the same grounds for an intraday bear breakout failure.
Bar 2: Strong bull Entry Bar, BE position in.
Bar 3: doji Low 1 signal for bears, a weak signal / just a bull breakout pause bar.
Bar 4: small doji, Failed Entry for bears on Low 1, more bull likely.
Bar 5: Bull Breakout and Follow Through, minimum measured move target 1935, trailing stops below bull micro trendline.
Bar 6: Low 2 for bears, a strong signal bar, but into strong bull momentum, might be a trap for fresh bears, or might produce a spike down. Tightening stops to just two pips below bear entry trigger level.
Bar 7: Low Two Failure, strong bull signal bar, added to the long one pip higher for a 4 pip scalp to the first target.
Bar 8: no ball for bulls, Double Top with Bar 6, Low 3 signal for bears, may trigger a selloff, exited most, leaving a small swing portion.
Bar 9: Low Three Entry Bar for bears, pretty decent.
Bar 10: Bear Entry Failure, added a buy stop above to the measuring move target.
Bar 11: strong Bull Entry Bar on High 2, Close on High, more up
Bar 12: Profit target hit. Trailing stop on the swing portion. Bull Close upon Breakout, next bull target 1.1941
Bar 13: A Two-Bar Reversal for the bears, a strong Low Four singal, could easily trigger selloff. Looking for Failed Low 4 if it fails around the new bull channel micro Trendline.
Bar 14: A very strong Entry Bar on Low 4, keeping stop below the safety of the Breakaway Gap of the bulls and looking to add to the long if it tests there.
Bar 15: Added to the long on the Breakaway Gap test. Stopped out of swing position, still holding the fresh entries with tight stops.
Bar 16: Stopped out of the last entries.

THIS TRADE OVER WITH PROFIT.

Re-entered long on the Breakaway Gap test.

Bar 16: vacuum and climax to BAG test, closed as weak yet still bull Reversal Bar, close above the middle. A Higher Low Major Trend Reversal. Got back in. Minimum target at Moving Average, then 1.194 as in previous trade.
Bar 19: Breakout from Inside-Inside Bull, first 8 pip target reached at MA.
Bar 21: Stopped out at BE and then re-entered, but a bad emotional decision this one, looks like bears are gonna get a lower low still... Leaving it at that.

Stopped out with a loss.

My awaited opportunity of the day finally came: Bar 25 was a strong Inside-Outside-Inside Bull Double Bottom, followed by a decent Double Bottom Pullback + High 2 on Bar 33, jumped in right on time. I think this one may run.

Bar 41: Strong Entry Bar on Two-Bar Reversal for the bears, exited two positions with profit, left just the swing portion.

Stopped out BE, with profit overall.

TODAY's MULTI-TIMEFRAME IDEAS:

On D1 Yesterday was a strong Entry Bar on the pinbar Reversal Bar. There was some buying pressure intraday, but not enough to fail the entry.

Today we are seeing a Breakout Test on D1 at 1.191 and the bulls are likely to continue positioning and nibbling for another big breakout around this level and the Moving Average, with these two levels and the recent High (High of Tuesday) serving as clear magnets and targets for both bulls and bears. Since we're now basically in the middle of the range, a lot of choppy action can be expected, so will try trading with wider stops with BE stops asap and tighter targets, with a slight long bias.

The current spike on M5 and M15 produced an H1 Outside Up reversal bar. Cautious bulls will be waiting to position at around breakout test level of 1.188, unless H1 entry level of 1.194 is triggered right away and there will be a chase and a measured move up.

M5 and M15 are already Always-In Long, H1 a strong bull Signal Bar and Entry already in progress and thus a Pullback in progress in a bear trend until proven failure (subject to at least some bear Pause Bars on H1).

FIRST TRADE TODAY:

Bar 1: weak doji for bears
Bar 2: Follow Through in bull spike, New High of Day
Bar 3: Breakout Failure above HOD, but tails on top and bottom, weak signal for bears, BOUGHT THE CLOSE, bull measured move target 1.1917
Bar 4: Tail on bottom, testing first bull Spike & Channel Trendline.

Bar 8: Bear Spike, MA test. Stopped Out with loss but a bigger profit on previous entry.

Bar 9: Three consecutive Bear Bars. Bear Measured Move target at 1.1875, currently Tight Trading Range likely as bull Breakaway Gap being tested. Watching microtrendlines.
Bar 10: Low 1, weak setup
Bar 11: Failed Low 1 Entry, High 2 for bulls
Bar 12: High 2 Entry Bar, strong close.
Bar 13: Pause in bull Trend Resumption.
Bar 14: Bear Low 2, Three Bar Reversal, stong signal for a Low 2/3, placing a stop sell below.

Bar 15: Low 2/3 not triggered, High 3 setup formed instead, cancelled the sell stop and placed a buy stop above.

NEXT LONG

Bar 16: Strong High 3 Entry Bar, buy stop triggered.

Bar 18: Failed High 3, scratched with a small loss.

Bar 21: a bull Breakout Test, Double Bottom with 9 and a High 4. But a weak doji Signal Bar. Still entering a buy stop above as this can be the last chance for bull trend resumption.

Bar 24: Bull Spike on High 4, holding for bull trend resumption.

STOPPED OUT BE.

AFTERNOON SESSION, 1st TRADE

Trend Channel Line Overshoot and Reversal, a half decent Signal Bar and a Strong Entry Bar, going long for bear Trend Line test and/or break.