EUR/USD Beginner Level trading
I exit the trade with 16 pips profit after the bearish engulfing pattern is sighted and fibonacci levels are being tested
Currently shorting the Franky at 1.15587, there are lots of option orders stacked around 600. 565. 585. and 600 which is causing price to range around there.
This morning i am currently long on Franky
I exit my long position at the edge of the Asian session after price started falling dramatically. I thought it was going to be a franky-fake so i switched bias to short but i got stopped out. I am done for the day as there seems to be a lot of volatility today,
Today i am long on Franky, there are option orders stacked around 500 which caused price to range around there.
I got stopped out on my first entry because i adjusted my stop loss upward (which i shouldn't have done). So, i reentered the buy trade and was able to recoup the loss from the first stop out. After that it just went downhill and i tried to reenter a buy but i tapped out. Not a good trading day as i barely broke even but I'm done for the day.
Today, I was long on Franky. Got stopped out on Trade 1 but i re-entered the market again. It is a near breakeven today bit i am done for the day as it is past my trading hours.
Today a look at the eurusd chart shows there are option barriers stacked around 1.1520 and another one stacked around 1.1500.
This morning, price may not be able to close below 1.1520 during & if it does, then it will be a sell opportunity with take profit placed at the next option barrier of 1.1500
I am currently long on eurusd with stop loss placed below the 1.1520 options barrier.
I exit the long trade just before the end of pre-franky and at the start of franky because most time the franky can reverse pre-franky. If you look at the chart you will see that price has not been able to close below the option barrier level of 1.1500 (ash color line)
Price has managed to close below the option barrier, so this is a sell opportunity. I am short now with stop loss above.
I just got stopped out on the short trade. Thats all for today, i am done for the week.
Notice how price ignored the second option barrier and instead reversed upwards and went back to ranging around the first option barrier level
Good morning,
This Monday morning this is what the market looks like. There are option barriers around 490/500 and the weekend gap is just above Asia. Price may move up to fill the weekend gap. There is also a rejection candle at the Asian low. If price were to fall to the rejection candle it may bounce back up without breaking the Asian low support
Currently short on the Franky as price closed the weekend gap and got pushed back, I had tried to short initially but got stopped out so i entered again
Currently short on the Franky as price closed the weekend gap and got pushed back, I had tried to short initially but got stopped out so i entered again
I exit my short trade with some profit and price later starts reversing upwards as seen on the charts. There seems to be high volatility in the market so i am not going to trade again. I am done for the day.