EUR/USD Beginner Level trading

Chart 1:

The 1 hour EUR/USD chart shows today price is trading within a range marked by upper and lower ash-colored lines.

Chart 2:

I switch to the 5 minute chart and locate another resistance line which i mark with a yellow line. How did i locate this line? well price seemed to behave funny around this line

Chart 3:

Price is testing the yellow resistance line and has exceeded it a bit

Chart 4:

Price reverses and starts falling showing me that that resistance line is a big deal.

Now, I am going to place a trade based on the yellow resistance line

Here's my trade

Chart 1:

I notice price has broken the yellow resistance line to i place a Buy Trade. I set my Take Profit above and Stop Loss below the yellow line.

Chart 2:

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

Chart 1:

Price meets resistance at the blue line I drew and starts falling. I wait for a second bearish candle to form as confirmation before i enter a short trade.

Chart 2:

I place my Stop Loss (SL) above my entry price and place my Take Profit (TP) at a point where i noticed that price met some resistance.

Chart 3:

Price moves downwards towards my Take Profit & triggers it. I exit the market with profit.

Chart 4:

Price reverses after hitting my Take Profit

Hey Folks,

I start the day by identifying areas of value on the 5 minute chart. I mark areas of value with a yellow line. These areas could either act as support or resistance

Yellow support line has been broken and price is in a downward trend so i short the market

My Take Profit has been hit and i exit with a profit. Price also bounces off the yellow support line

Chart 1:

I spot a rounded bottom chart pattern but the yellow resistance line is so strong that the price cannot break it and go up.

Because of this observation, i short the market by opening a sell trade.

Chart 2:

I set my Stop Loss & Take Profit. I ensure the Stop Loss is set above the yellow resistance line

Chart 3:

Price keeps falling in my favor but i don't wait for my take profit to be triggered i exit the market manually

EUR/USD is looking oversold. Look at the RSI oscillator indicator below- it is near the 30 mark meaning oversold.

Quick Trade

I marked the high and low of todays Asian session with the yellow lines.

I noticed price broke through the upper yellow line (resistance line) so i placed a buy order.

Why? Because if price was strong enough to break the line then its momentum should sustain more upward movement

But for risk management i put a take Profit. Why? Because during the Frankfurt session alot of fake breakouts happen.

Price has hit my take profit so i exit with a profit.

The highs & lows of the Asian session are 478 & 462. Attached chart, which is the 6 hours of Asian range.

Generally (not always), the highs & lows of that are important. If you break to one side during London session, that is the trend of that session. For the last few days, the London session is continuing the trend of the Asian session. Today Frankfurt reversed, from the Asian low.

If London hour closes below 78, I think this could fall back down (normally, not always, nothing works all the time).

Hello Guys,

This afternoon I noticed EUR/USD was consolidating in a sideways movement so I drew a box around it to mark the high and low of the range.

I proceeded to open a sell order when price was at the upper edge of the box because II noticed the price has been ranging inside the box and not breaking out of it.

I opened a sell order because I expect price to fall down the box in a downward movement as it has been doing inside the box for several minutes now

After a while price fell downward almost reaching the end of the box and I made about 15 pips profit.

Hi Guys,

Today I woke up early in the morning to prepare for the London session and looking at the 1H EURUSD chart, I noticed the Frankfurt session candle was a doji meaning indecision.

For clarity, the blue rectangle in the screenshot represents the Asian session on a 1H chart.

My EUR/USD strategy is the breakout and reverse strategy so I am going to wait for price to breakout from the high or low of the Asian session and then reverse before I enter a trade.

Price broke out from the Asian low so Ii waited for it to retest the breakout candle before I entered a long trade. I eventually made a profit of around 5 pips before exiting when price started going down.

Price reversed course after the fake breakout and is now heading upwards after consolidating. It has even broken the Asian high

Today on EUR/USD my strategy was I marked the high and low of the Asian session with the blue dotted lines. When the Frankfurt session started there was a break of the lower support line (low of the Asian session) which turned out to be a fake and price reversed and started going up.

I waited for price to retest the breakout candle (see yellow circle on chart) then i entered a buy order because I suspected price was going to keep going up.

I exit my trade after making a profit of several pips so I am done for today. I cannot trade further because I have other commitments that is why I closed the trade.

After I exited the market price began to consolidate and I marked it with a blue rectangle. Note how when price broke out of the lower edge of the consolidation box, the price started falling

Today the Asian session closed near the edge.