EUR/USD Beginner Level trading
I have entered another buy with 8 pip stop. I think today may be a bullish day if price manages to stay above the 918 level (slightly above the Asian range high)
Price is ranging around the 1.1910 option barrier, this may go on till the New York session. I have taken profit on one buy trade and opened another.
I have exited my buy trades with profit bexcause I sensed danger with price reversing back into the pre-franky range (around 1.1916). I will wait for price to close outside the pre-franky range before buying again.
I have taken another buy trade at 1.1914 after price closed outside the pre-franky range.
I have closed the buy trade at BE and my attention has shifted to selling as I spot a sell signal after price broke out of the Asian high range and reversed back into it. There are also a lot of option expiries sitting between 1.1850 to 1.1825 so a sell may push price towards these barriers.
This is my sell plan. I am waiting for price to get to 1.1906 before i short the market.
EURUSD trade analysis for today showed a breakout of the Asian session and a reversal back into it. So, according to my breakout strategy, I would just buy at 1.1857, place a 10 pip stop, and hold the trade till the upper edge of the Asian session.
The fall in price may have started SL 10 pips away from the green circle (1.1887 level) and TP around 1.1750, it could be massive!
Price has broken out of the Asian range so to trade this we shoud await a reversal back into the range. EUR/USD option expiries also sit downward at 1.1850 so that should draw pricre down.
Price has broken out of the Asian range so to trade this we shoud await a reversal back into the range. EUR/USD option expiries also sit downward at 1.1850 so that should draw pricre down.
This is my expectation on the higher timeframe for EURUSD. I am bullish though.
Price has reversed back into the Asian range so heres our chance to sell and place 15 pip SL above the Asian range at 1.1880 and TP at the option expiry at 1.1850
Price went down and came up again but we are still in sell territory Sl not hit