Today is my birthday. Today I make a new promise to myself. In the coming year, I will be more successful in both business and life. Until then, I'll be working like hell.{image}
Looking for profitable short term trades ...|
- #154,261
- Aug 12, 2022 1:40am Aug 12, 2022 1:40am
- Joined Jun 2016 | Status: Sharing EUR/USD Ideas and Insights | 15,430 Posts
Today is my birthday. Today I make a new promise to myself. In the coming year, I will be more successful in both business and life. Until then, I'll be working like hell.
Time is everything; Everything.
Preparing for London session on Friday.
Kept my long position overnight. Entered at 1.03265. Still target for 30 pips. Once it hits, I close.
If price retraces down to 1.028 support, I'll add another long trade, also for 30 points target.
Just an observation. Market was trading range bound between 1.011 and 1.028 (23.6% to 50% Fib) for three weeks.
Three attempts were made to break above 1.028, they failed. The fourth one, on Wednesday, lifted the price up to 1.036 handle.
Does it imply that:
Kept my long position overnight. Entered at 1.03265. Still target for 30 pips. Once it hits, I close.
If price retraces down to 1.028 support, I'll add another long trade, also for 30 points target.
Just an observation. Market was trading range bound between 1.011 and 1.028 (23.6% to 50% Fib) for three weeks.
Three attempts were made to break above 1.028, they failed. The fourth one, on Wednesday, lifted the price up to 1.036 handle.
Does it imply that:
- Market is looking to stay and trade between 50% and 61.8% for a while? or
- The 1.028 to 1.036 range is just a "transitory" (not a nice word to central banks anymore,
) band, as market is waiting for direction?
We may need to wait until next week to see. Happy trading & enjoy your weekend.
Cheers,
Cat
- #154,267
- Aug 12, 2022 1:53am Aug 12, 2022 1:53am
- Joined Jan 2022 | Status: living deliberately | 872 Posts
{quote} Many More years man. Similar setup. 1st TP liquidity, 2nd TP asian. Have a great yr ahead, Cheers
It was added to the sale at 1.03213.
Yes mate, similar setup. Let's take this market hostage
Let's wait and see the results.
Swing Trader
- #154,269
- Aug 12, 2022 2:01am Aug 12, 2022 2:01am
- Joined Jan 2022 | Status: living deliberately | 872 Posts
{quote} Thanks for your best wishes. It was added to the sale at 1.03213. Yes mate, similar setup. Let's take this market hostage
Swing Trader
- #154,271
- Aug 12, 2022 2:03am Aug 12, 2022 2:03am
- Joined Jun 2016 | Status: Sharing EUR/USD Ideas and Insights | 15,430 Posts
Looking for profitable short term trades ...|
- #154,274
- Aug 12, 2022 2:14am Aug 12, 2022 2:14am
- Joined Jun 2016 | Status: Sharing EUR/USD Ideas and Insights | 15,430 Posts
4 Hours chart.
This is the main scenario/s.
This is the main scenario/s.
Looking for profitable short term trades ...|
- #154,275
- Aug 12, 2022 2:18am Aug 12, 2022 2:18am
- Joined Dec 2015 | Status: Trader | 2,586 Posts
As long we are for hourly going with trendline i will go for a long picture. Now we have a corrective move. If price go with power through trendline i see we testing zone below. Means we have in bigger timeframe going in range.
Perfection is the enemy of good enough!
- #154,278
- Aug 12, 2022 2:40am Aug 12, 2022 2:40am
- | Joined May 2014 | Status: Trader | 1,507 Posts
Be careful today guys. I am trading the range today with smaller lot sizes. I expect the range to narrow before it chooses its direction which might be a bigger move. Timing is very crucial today.
If anything look for entry levels for your longs on the suports you have available. Should provide a decent support for today 1.0294 and 1.028. For a long entry. That is if the 1.0298 fails to hold it. And price is getting out of exaustion zone so i will be closing my shorts around those levels and see how it reacts.
- #154,280
- Aug 12, 2022 3:11am Aug 12, 2022 3:11am
- Joined Jun 2016 | Status: Sharing EUR/USD Ideas and Insights | 15,430 Posts
Looks easy today lets hope it is, the target should be at least 55 pips from the low/high to high/low, you decide. {image}
Looking for profitable short term trades ...|