+-40min breakout of the low of an over 3 days range is often negligible.
Even more so when it is against an up trend that has lasted over two weeks and that has not yet lost any momentum in relation to its long duration.
In my experience, under such ranging conditions, an opportunity to buy at around the bottom of it, even if broken (a ranging market moves up and down lightly, widens and tightens, must not we forget), has more potential profitability than of selling around the bottom it.
BUT it could just as well retest the 40s or drop some more. Especially if 1960s holds right here, as the intraday bears still have momentum.
Nothing changes for me as long as we are above 1920, or the 4h closes above 1950. Still mainly buying.
On an even MORE boring personal note : lost my five last longs from last week, at BE. Was expected. As planned, I managed to get safely back in at 505, 544, 572, and 614 SL at BE for my two first, the last two will have SLs moved at BE when 66 is reached, if reached.
Will repeat as often as I have to as long as we do not go below 1920 and price returns swiftly enough in the 50s.
Price will be in the 1.2 or below 1.9 next time I make big changes to my trading this pair. See you then !
Cheers all and happy trading !
There is as much probability for it to go right back up above 70s.
Even more so when it is against an up trend that has lasted over two weeks and that has not yet lost any momentum in relation to its long duration.
In my experience, under such ranging conditions, an opportunity to buy at around the bottom of it, even if broken (a ranging market moves up and down lightly, widens and tightens, must not we forget), has more potential profitability than of selling around the bottom it.
BUT it could just as well retest the 40s or drop some more. Especially if 1960s holds right here, as the intraday bears still have momentum.
Nothing changes for me as long as we are above 1920, or the 4h closes above 1950. Still mainly buying.
DislikedLooking for long reentries above 1951, all the way to 1965. Looking for sells and scaling down longs under 1920sIgnored
On an even MORE boring personal note : lost my five last longs from last week, at BE. Was expected. As planned, I managed to get safely back in at 505, 544, 572, and 614 SL at BE for my two first, the last two will have SLs moved at BE when 66 is reached, if reached.
Will repeat as often as I have to as long as we do not go below 1920 and price returns swiftly enough in the 50s.
Price will be in the 1.2 or below 1.9 next time I make big changes to my trading this pair. See you then !
Cheers all and happy trading !
There is as much probability for it to go right back up above 70s.
If I don't mention SL and/or TP = longer-term setup possibly in the works!
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