Thanks Arha for your warm compliments.
Here's another potential trade setting up.
Price just burst up after lingering around RN 1.3450 and H4 10EMA for a while..
Looking for price to retrace back to 1.3465 ( around M15 10EMA)
before going Long on EURUSD.
Reasons for entry
1) Very Steep M15 10 EMA ( 58 degrees)
Confluence of Tons of MAs providing strong support now
2) H1 10 EMA
3) H1 35 SMA
4) Daily Pivot1.3454
5) RN 1.3450
6) H4 10 EMA 1.3444
One thing to be of concerned is that 35/50 MAs on M15 is still flat and horizontal, cos this is the first time price pierce through the 35/50 MAs today on M15 to form a uptrend.
Would be good if we see a 2 bar retrace to M15 10 EMA for a nice setup..
Action: set price alert to 1.3465 so I can come to the screen when setup occurs
Update 1: Long at 1.3468 stops 1.3435 initial target 1.3485 final target Rn 1.3500
Update 2:EURUSD Long got stopped out at 1.3435 average of 32.9 pips loss.
Here's another potential trade setting up.
Price just burst up after lingering around RN 1.3450 and H4 10EMA for a while..
Looking for price to retrace back to 1.3465 ( around M15 10EMA)
before going Long on EURUSD.
Reasons for entry
1) Very Steep M15 10 EMA ( 58 degrees)
Confluence of Tons of MAs providing strong support now
2) H1 10 EMA
3) H1 35 SMA
4) Daily Pivot1.3454
5) RN 1.3450
6) H4 10 EMA 1.3444
One thing to be of concerned is that 35/50 MAs on M15 is still flat and horizontal, cos this is the first time price pierce through the 35/50 MAs today on M15 to form a uptrend.
Would be good if we see a 2 bar retrace to M15 10 EMA for a nice setup..
Action: set price alert to 1.3465 so I can come to the screen when setup occurs
Update 1: Long at 1.3468 stops 1.3435 initial target 1.3485 final target Rn 1.3500
Update 2:EURUSD Long got stopped out at 1.3435 average of 32.9 pips loss.
Attached Images