EURUSD

BP 5' --- Took my prfts here , NOW and reversed to long , as shown..................

On Monday last week, the EURUD price action on the daily time frame made a bullish break out from the 1.09150 horizontal resistance area. However, there was a bearish challenge to the move on Tuesday which led to a bearish break below the area on Thursday before price action turned sideways on Friday. Technically, we may see a southward market engineering in the early part of this week.

I may be wrong. Trade safe and prosper.

KP

Attached Image (click to enlarge)

E. and BP 5' --- Took my Pfts here, now , as shown.

Short as shown...........in JY .... SL at 147.10 and 147.12

This pattern happens all the time, you need to learn how it looks across the currency pairs.
Accumulate, stop hunt, brakes, trend.
Or,
Accumulate, shift, brakes, trend.

This was the first one:
1: Asian session: Price consolidated in an 11-pip range, and, naturally, an imbalance in order flow (longs to shorts) develops on the dealer's books.
2: Europe session: After this volume develops (indicated by the 'balanced' distribution curve in Asia, the European dealing desk flashes their in equity to the downside, against the higher volume of accumulated long orders (due to directional bias, textbooks 'educating' retail traders to do x if y happens- not to mention, these books are mostly written by brokers and dealing desks that lose when you win - you really want to take their advice?). This isn't a 'breakout' - This is a dealer-driven stop hunt.
3: America session: After the European dealer clears the board of accumulated longs, comes to a stop, and then holds, the price action convinces many traders to take the breakout, for fear of missing out (FOMO). People panic in short. Have you ever been stopped out, then you changed your directional bias, only to be right the first time, just in too soon?. (there are setups in which this is appropriate, but you have to learn the setup!)
Anyways, the US dealer trends after the board is cleared, jamming lower level sellers that have lifted their stops and are being dragged out of their money.

Waiting until the brakes AFTER the stop hunt, is where the money is made. And you keep it by not chasing things, emotionally.

I mark it up based on my trading indicators I developed years ago - after being mentored by a retired broker who worked as a Market Maker/liquidity provider in the ForEx market. I hope it helps, and DM me if you want clarification! I'm happy to help.

SLs activated.......> FLAT.

E. and BP 5' --- Longed both , here, NOW............... SL at 9 65 and 28 70 fttb.....

Good luck everybody , crew.............

I am worried with this.... Lifted SL up to 975

No power in E. ......Raised SL s in both , at BE+..............

It might be time to get out of everything.............................

Resistance at 1.10438

EURUSD price action on the daily time frame printed a bullish candlestick on Friday after the consolidation of the previous two days. Technically, bulls ae favoured to push further northward at least in the early part of this week.

I may be wrong. Trade safe and prosper.

KP

My bias is similar - Dollar index is down. Looking for a stop-hunt low outside Asia's range before the next trend in price. Stoploss long indicator is showing tight stops just outside Asia's low - placed a pending order long on the 1.10694 w/ stops 15 pips outside the low. If there's a greater pool of liquidity around the 1.10544 area, we'll see price action stoop lower - would take an another long off that price if the opportunity presented itself.

Anytime markets trend like this, you never trade the consolidation zones - people say "trade the rest before the run" - that's all FOMO crap - let price action run its course, don't be in too early, and wait for the stop hunts to end!

Look for my newest posts in Cable thread ...

JY - E. and BP ------------ Long -Short and Short...................

BP - Approaching target level and time.........................

I should cash in prfts perhaps NOW.................................

JY........................ and somewhere we must T. Prfts.................. shouldn't we ...?????

BAM here , NOW

$JY 5' --- I am ashamed I entered the game so late.............. It was a nasty suprise....

Plenty of room to move lower imho.....