Stops on Euro D1 are now expanded.
Going to give a bit of further context to why longs looked like a decent punt a few weeks back.
On zoomed out D1 chart starting from around that little up-arrow we can see a bullish breakout potentially indicating an uptrend. Price eventually pulled back to the origin of the breakout and this an obvious place to look for the resolution of the correction and potential swing back in the direction of the underlying trend.
The first tiny grey rectangle (apologies for the teeny chart but I want to display a full view) is where price printed a fresh demand zone. Straight after this occurred I took the first batch of entries based upon H4 and M30 PA with all entries sized and positioned for H4.
After the first round of exits and maintaining one position I've added a further long some days later based solely upon D1 PA (the other tiny grey rectangle). There's currently one T/P set. The idea for the other position is to aim for that trendline, which is based on W1 and confluenced with the grey circled area of PA currently around 1.24'ish.
Whether or not price reaches the targets is a complete unknown. Main thing in favour at the moment is a decent enough looking uptrend. Aside from the time of year I would say the main thing against is the danger of price going into a range in which case I would imagine these expanded stops will be hit. As always; Price Will Tell.
Going to give a bit of further context to why longs looked like a decent punt a few weeks back.
On zoomed out D1 chart starting from around that little up-arrow we can see a bullish breakout potentially indicating an uptrend. Price eventually pulled back to the origin of the breakout and this an obvious place to look for the resolution of the correction and potential swing back in the direction of the underlying trend.
The first tiny grey rectangle (apologies for the teeny chart but I want to display a full view) is where price printed a fresh demand zone. Straight after this occurred I took the first batch of entries based upon H4 and M30 PA with all entries sized and positioned for H4.
After the first round of exits and maintaining one position I've added a further long some days later based solely upon D1 PA (the other tiny grey rectangle). There's currently one T/P set. The idea for the other position is to aim for that trendline, which is based on W1 and confluenced with the grey circled area of PA currently around 1.24'ish.
Whether or not price reaches the targets is a complete unknown. Main thing in favour at the moment is a decent enough looking uptrend. Aside from the time of year I would say the main thing against is the danger of price going into a range in which case I would imagine these expanded stops will be hit. As always; Price Will Tell.
