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EUR/USD 15m trendline breakout

  • #421
  • Edited 12:33pm Mar 13, 2021 11:22am | Edited 12:33pm
USDJPY

Very bullish and not a lot overhead to stop it. Took a breather this week and swung around in a range.

Two demand areas below I would like to look out for buys on the 1h, or more likely the 1h supply to be removed and buy pullbacks
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  • #422
  • Edited 2:20am Mar 15, 2021 1:42am | Edited 2:20am
I am short in EU at 1.1950 last night, took it at market rather than a limit (as I should have) shown on this trade, straight FOMO

https://uk.tradingview.com/chart/EUR...Intraday-Idea/

Bouncing on the median line at the moment maybe another bounce around S1

Now the true test is if I can just leave this to run to the bottom of the channel without playing
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  • #423
  • Mar 15, 2021 4:07am Mar 15, 2021 4:07am
0.618 fib ext/1h demand provided a bounce

So I need a turn down pretty soon to stay in this trade. A bounce is expected but thought it would happen at S1

If if breaks above 1.1960 then I need to think again
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  • #424
  • Mar 15, 2021 4:19am Mar 15, 2021 4:19am
Took 22 pips on EU. Shorted GU as more pip potential. Although I believe EU is more bearish I still have conviction on GU, same dollar thesis. 1h supply/wedge break as conf. Although the more I think about it I think sticking with EU may have been the better call because of whats happening in Euro fixed income, lets see

Sell 1.3940, stop 1.3952
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  • #425
  • Mar 15, 2021 4:32am Mar 15, 2021 4:32am
Took the same trade and now saw that you had taken it as well.

My stop is at 3954, lets see if S/R works...

Quoting mysterio
Took 22 pips on EU. Shorted GU as more pip potential. Although I believe EU is more bearish I still have conviction on GU, same dollar thesis. 1h supply/wedge break as conf. Although the more I think about it I think sticking with EU may have been the better call because of whats happening in Euro fixed income, lets see Sell 1.3940, stop 1.3952 {image}
  • #426
  • Mar 15, 2021 4:37am Mar 15, 2021 4:37am
Quoting Ilvez
Took the same trade and now saw that you had taken it as well. My stop is at 3954, lets see if S/R works... {quote}
Good luck to us!

Little 5m flag on DXY and good downside potential I think

Id like to see DXY make it to 91.17, next 1h supply and 100 fib ext of this move

Still waiting on my broker to classify me as 'professional' so I can trade multiple pairs at the same time. The regulator here has mandated strict leverage/margin requirements.
  • #427
  • Mar 15, 2021 4:46am Mar 15, 2021 4:46am
To me, this is a nice buy on USDJPY with the new demand created

I'll just watch it as a hypothetical trade
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  • #428
  • Mar 15, 2021 5:12am Mar 15, 2021 5:12am
Still need to close inside the channel on GU to confirm false break

DXY looks bullish to me
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  • #429
  • Mar 15, 2021 6:21am Mar 15, 2021 6:21am
Quoting Ilvez
Took the same trade and now saw that you had taken it as well. My stop is at 3954, lets see if S/R works... {quote}
What TP are you thinking of Ilvez?
  • #430
  • Edited 7:19am Mar 15, 2021 6:49am | Edited 7:19am
Took only meagre 20pips from that trade did not like it hanging around 3920 area. I have not had good trading rhythm at all, building slowly and taking probably less than I should

Quoting mysterio
{quote} What TP are you thinking of Ilvez?
  • #431
  • Mar 15, 2021 7:26am Mar 15, 2021 7:26am
Nice, well done. Still holding on, that huge bullish candle on 15m caught me off guard.
  • #432
  • Mar 15, 2021 7:42am Mar 15, 2021 7:42am
My initial TP was 3910 but I cut it short. Actually USDX is driving itself into some wedgy thing. If the next 4H candle closes above 91.86 it forms some sort of bullish SW, which could mean more oomph for dollar. But when looking at GU 15 min candles to me last 2 ones were clear stop hunts to punch the longs from LO.

On the other hand 3890-3900 zone is forming up to be good S, which has been tested few times, so I would probably look for longs at that area, depending on PA.

So in conclusion - price can move up or down

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Trade safe!

Quoting mysterio
Nice, well done. Still holding on, that huge bullish candle on 15m caught me off guard.
  • #433
  • Mar 15, 2021 7:57am Mar 15, 2021 7:57am
Yea hopefully dollar makes a big push up. Treasuries in a huge bear market so odds on my side I guess

I really don't like holding trades this long, if it goes back on me I've given the whole morning away to this

It looks like EUR is compressing into a triangle on 5m so maybe wait for that to blow closer to NY to confirm direction
  • #434
  • Edited 9:41am Mar 15, 2021 8:53am | Edited 9:41am
Pretty much broken out now, or about to. Good place to add more short with a stop above the TL. I'd probably wait for a more violent BO. Thought about TPing here and re-selling after the BO but just gonna leave it. When I started in November I was pretty much only trading TL breaks

50 pips in the clear, continuing to hold

Closed +55 after a big push. Will re-short if it retests the TL

Pretty good just to call it a day there but i'll keep an eye out for scalps
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  • #435
  • Edited 10:42am Mar 15, 2021 10:28am | Edited 10:42am
Ended up re-selling at 1.3890 when I saw DXY was turning up in a 5m channel, stop to BE, looking for 1.3850

And out just a 15 pipper

Now selling EU

Got a huge spike a few mins after closed +20

Thats DXY broken supply now - Good day so far!!

I think I have to stop now- i know this indestructible feeling and i'll go bleeding money into dumb setups. So no more!

I was close to buying S1 on GU, I wonder how it will hold. I am expecting the demand zone below it to provide a decent bounce.
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  • #436
  • Edited 11:26am Mar 15, 2021 10:45am | Edited 11:26am
Will be watching the yellow zone to see if its a launchpad for the dollar

Apparently not, majors all shot up. Glad i didnt enter anything although I can see why on EU.
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  • #437
  • Mar 15, 2021 11:28am Mar 15, 2021 11:28am
This Thread is about EU but you guys post about UC and DXY


I'm not a hater,just saying
I don't trade, i just buy cheap and sell expensive
  • #438
  • Edited 1:00pm Mar 15, 2021 11:54am | Edited 1:00pm
Quoting fabiox44
This Thread is about EU but you guys post about UC and DXY I'm not a hater,just saying
Hey man

I just started this as a personal trade journal just so I can reflect on my trades and progress every day

When I first started I decided on EU only then started gravitating out towards other pairs, mainly cable now

I actually tried to change the title but can't!

It's more just a personal trading journey rather than a general discussion thread, I didn't expect anyone to post but it's very welcome if anyone has anything to add. I just set it up as a record thread basically, I've posted just about every trade I've taken since Nov.
  • #439
  • Edited 2:13pm Mar 15, 2021 11:55am | Edited 2:13pm
I shorted cable at 0.382 retrace when I saw dxy was going up and not taking GU with it. Also an upper TL, stop to BE asap

Edit- out BE
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  • #440
  • Edited Mar 16, 2021 1:34am Mar 15, 2021 1:59pm | Edited Mar 16, 2021 1:34am
Shorted GU here, stop is to BE already

Out BE unfortunately, it dropped overnight
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