EUR/USD Beginner Level trading
The 1-day EURUSD chart shows we mayhave a downward day. But let me look at where the orders are stacked for today.
There are option clusters seated upwards from 650 to 700 so price usually pushed towards the clusters first.
I am long with 8 pip stop loss. Because of the eurusd cluster expiries from 1.1650 to 1.1700 I feel the price will go upwards till NY.
I went long because of the option expiries above and for a moment price was going up until 4pm when price suddenly tanked to 600 hitting my SL. I am done for the week, this has not been a good week for me.
Just closed my shorts for 10 pips & 13 pips profit respectively. I just got news that the dollar is losing value due to Trumps tarriff threats on Europe, So I had to exit my shorts are price could start rising.
The effect of the news can be seen on the eurusd pair, the dollar has weakened (meaning eurusd exchange rate is rising) after Trump tarriff threats to Europe. Its a really bad time to be short on eurusd as the bears have the market.
With the "Sell America" sentiment trending globally due to the Greenland brouhaha, the US dollar has weakened. Looking at the daily chart you can see the bulls have taken over. Will be careful while trading today, I suspect buys will be more profitable.
Just got stopped out of this long. My entrey was around 1.1720 and I placed a 10 pip stop below the daily pivot but price still fell to it.
I just took some short trades with 10 pip stop. I placed the stop above the daily pivot point (blue line). President Trump has ruled out military action in Greenland so the USD should strengthen a bit at least until PCE data for the U.S. is released by 4pm today.
My stop was hit on my first entry which was a short. I have taken a second entry which is a long trade with stop at BE while awaiting PCE news by 4 pm
Just closed my long for 20 pips profit. Today all my morning trades failed, I was only able to make profit during the NY session.
Just closed my long for 20 pips profit. Today all my morning trades failed, I was only able to make profit during the NY session.
Just took two long trades trying to catch the franky reversal.
I just closed my long positions for a small loss because the upward momentum isnt there. I have switched bias to sell especially since there are option clusters between 1.1700 to 1.1600. The pattern for this week has been fake of pre-franky so I am trading according to that pattern. wish me luck!!!
Today is a PMI day (PMI news for the US will be released by 3:45 pm) and what usually happens is that price will spike towards the option orders (today the options are downward).
The PMI news came out but it didnt spook the market so price didnt fall towards the option clusters as i expected. I should have closed my short position when i saw this (and switched to buy) but somehow I was stuck on analysis paralysis. My SL was eventually blown.
This Monday, the market opened but there is a gap because price opened higher than it closed on Friday. I expect price to fall towards the gap and cover it.
I took a short trade with TP placed after the gap. I plan to hold the trade till price falls and closes the gap.
