EUR/USD Beginner Level trading

As expected, price reversed at the 38.2 fib level and my stop loss was hit

I exited with a profit though !!!

Good Afternoon Guys hope we had a good weekend,

Today i am trading the New York London Overlap

As you can see the London session is trading in an upward trend well above the Asian session level

I spot a down trend then i use the FIBONACCI RETRACEMENT tool to check if the trend will be sustained

I notice price has broken past the golden FIBONACCI NUMBER OF 38.2 so this means the price wil keep falling down as any reversals would have happened at the golden number of 38.2

I take this as a sign to open a SELL POSITION

I place my Take Profit & Stop loss

My Take Profit has been hit and i exit with a $33 profit

Hello Guys

This is the market today. Price has broken through the line drawn to mark the Asian session high

This is what the 5 minute chart looks like

I must say the market is really slow today. This is because there's fear in the market as we await the US federal reserve interest rate decision.

However, i am just scalping now for small profits with tight stop loss

I see a down trend and use the Fibonacci Retracement Tool to investigate it.

I see that there was a retracement (yellow circle) around the golden 38.2 level

After the retracement, the downward trend continues so i open a short position and set a tight stop loss and also set my Take Profit at 1.11250

Price falls in my favor and hits my Take Profit.

I exit with a $7 profit

Good Morning Guys

AT last the US Federal Reserve has cut interest rates. This means the EUR/USD is going to be in an uptrend mostly today

Yeah, so basically i have the EUR/USD 1 hour chart here

The red lines mark the Asian session high & low prices for today

Lets look at the 5 minute chart. We see an upward trend too

I used the Fibonacci Retracement Tool to check this uptrend for retracements

Good Morning Guys

This is what the EUR/USD market looks like right now.

The US Dollar has been weak lately so naturally the EUR/USD exchange rate will be high (1.1 level) so we see this overall uptrend

market in a solid down trend and i have been scalping

FIRST TRADE

Chart 1:

I spot a bullish hammer candlestick in a downtrend which has been trending downwards for a while. So usually the hammer candlestick pattern signifies an trend reversal is on the way.

So i open a buy order because i expect price to start going up & i set a Stop Loss (SL)

I also set the Fibonacci Retracement indicator so i know if the upward coming upward movement is actually a trend or just a fake (sellers withdrawing their profit)

Chart 2:

In the second chart I set my Take Profit (TP) above the upper wick of the preceding candlestick.

Chart 3:

Price rises towards my Take Profit & triggers it so i exit with a profit.

End of trade ✅

SECOND TRADE

Chart 1:

I expect the upward trend to continue so I open a Buy Trade & set my SL & TP

Chart 2:

Price is testing the 20.0 Fibonacci Level which is acting as resistance & price reverses and starts falling towards my stop loss

Chart 3:

My Stop Loss is triggered and i exit with a loss

THIRD TRADE

Chart 1:

I notice a retracement (yellow circle) occurs at the 38.2 golden Fibonacci level so i know there's a chance the downward trend will continue.

I quickly open a Sell Trade to benefit from the potential downward movement of price.

Chart 2:

I set my Stop Loss near the Fibonacci level of 38.2 then set my Take Profit (TP)

Chart 3:

Price starts falling as i predicted so i lower my SL to secure some profit

Chart 4:

Price hits my Take Profit so i exit with a profit ✅

End of Trade for today!!

Chart 1:

I spot a downward trend so i insert the Fibonacci retracement to know if any reversals that may happen are going to be temporary or will lead to a total trend reversal

Chart 2:

A reversal actually happens at the 38.2 Fibonacci level meaning the reversal is temporary and the down trend will continue so i place a Sell Order and set Stop Loss (SL) & take Profit (TP)

Chart 3:

Take profit is hit & i exit with profit ✅✅✅

Hello guys,

I just put on my system now and what do we have here? m looking at the 5 minute EUR/USD chart and UU notice a round bottom chart pattern. Usually this pattern signifies trend reversal an as you can see it appeared in an uptrend and was followed by a down trend.

EUR/USD exchange rate has been rising in an uptrend lately

this is not surprising because the US Dollar index is at its lowest point in 6 months

Today i am only going to be buying & not selling because the EUR/USD exchange rate is on a rise