EUR/USD Beginner Level trading
Today there are some levels to take note of, the 1.1348 closing price of May last month, and the option barriers stacked around 1.1350 level.
Today there are some levels to take note of, the 1.1348 closing price of May last month, and the option barriers stacked around 1.1350 level.
Thr Frankfurt session is about to start by 7 am and 70% of the time, it has a habit of reversing the Pre-frankfurt session which is ending by 7am. Also, the option orders at 1350 may attract price downwards.
Thr Frankfurt session is about to start by 7 am and 70% of the time, it has a habit of reversing the Pre-frankfurt session which is ending by 7am. Also, the option orders at 1350 may attract price downwards.
Today Frankfurt was up and didnt reverse pre-franky, the liquidity is also very poor this morning with price moving very small distances thats why you see small candle sticks mostly.
Today Frankfurt was up and didnt reverse pre-franky, the liquidity is also very poor this morning with price moving very small distances thats why you see small candle sticks mostly.
Good Morning, today I am long on the Frankfurt session.
Price is still ranging inbetween the option orders stacked at 1400 and 1450. The Frankfurt session ends and London session starts in 12 minutes, I expect it to bring some momentum to push price out of the current range.
Price is still ranging inbetween the option orders stacked at 1400 and 1450. The Frankfurt session ends and London session starts in 12 minutes, I expect it to bring some momentum to push price out of the current range.
I got stopped out for a 6 pip loss, i had expected the London session to push price upwards.
Took this long trade as Franky reversed upward and the price eventually started going down and I got stopped out with a 6 pip profit on the first trade and 2 pip loss on the second trade
I've closed my 64 long at 85. It was a fakeout of the Asian low, also Monday's low is at 52. In hindsight, I could have held it till 92 (I had my TP there, there is no opposite bar signal), but the HCOB data is releasing during London hour, so I decided to close it.
I've a seasonality analog for June, and it is playing out okay right now. If you go back & check the last 5 years, the first day of June is mostly strongly Bullish, the next day is bearish (almost reversing the first day), but it does not break the low.
And it then ranges there for a few days, before a break. Break below 1350 will be a strong sell trigger. But if it breaks 1418, and closes above it, it might be a Bullish trigger.
I'm net BE for the month. Monday was a losing day for me. Tuesday was a small profit, because I was stopped out on my first sell trade yesterday. Today was good.
I've closed my 64 long at 85. It was a fakeout of the Asian low, also Monday's low is at 52. In hindsight, I could have held it till 92 (I had my TP there, there is no opposite bar signal), but the HCOB data is releasing during London hour, so I decided to close it.
I've a seasonality analog for June, and it is playing out okay right now. If you go back & check the last 5 years, the first day of June is mostly strongly Bullish, the next day is bearish (almost reversing the first day), but it does not break the low.
And it then ranges there for a few days, before a break. Break below 1350 will be a strong sell trigger. But if it breaks 1418, and closes above it, it might be a Bullish trigger.
I'm net BE for the month. Monday was a losing day for me. Tuesday was a small profit, because I was stopped out on my first sell trade yesterday. Today was good.
Regarding the analog, refer to the daily chart from last years.
a. This is last year June. Highlighted is the first day of the month.
b. Second is 2023 June.
You can go back & check it. Normally, if should range for the next few days before it resolves. Normally, it should resolve by week's end or start of next week.
So, break of 1350 on the downside is important for sell trigger. Daily close above 1418 will be generally bullish.
Today I am long on the Franky
My long trade is still open and we are in the London session now. I intend to hold the trade open till the new york session.
My long trade is still open and we are in the London session now. I intend to hold the trade open till the new york session.
I was long on the Franky open (fake of Asian low), but I was stopped out when it pulled back. But I had entered again. I've exited it at 21.
Today is ECB day, the Franky was not solid, without follow through, so I decided to close after first 15M of London. It is possible that it could go up still, but it could be by the end of the session.
As long as the first 15M of Franky holds, it should be a buy. I've attached the sessions chart as well.
I finally exit the trade with around 12.5 pip profit. I am done for the day as it is way past my trading hours.
Take a look at the 1 hour sessions chart for last week. I noticed a daily pattern of up, down movement for each day (with the exception of Thursday)
Take a look at the 1 hour sessions chart for last week. I noticed a daily pattern of up, down movement for each day (with the exception of Thursday)
Also look at the 1 month chart you will see that for the month of may it was a doji candlestick pattern which signifies a possible end of the upward trend that began in February. In other words, let us watch out as we may have a bearish month of June with price falling below the dotted line which marks last months closing price of 1.13436
