EUR/USD Beginner Level trading
My overall direction for EUR/USD is bullish.
From the Daily Timeframe Order Block, EURUSD will be buying to take out all the necessary liquidity before dropping.
@Godswillfx you are talking of daily timeframe but you are posting a screenshot of 4 hour timeframe
@Godswillfx you are talking of daily timeframe but you are posting a screenshot of 4 hour timeframe
Yes, the overall direction of the pair EUR/USD came from an ORDER BLOCK on the daily timeframe...
The screenshot is simply the bullish continuation as a result of the initial daily bullish push.
However, after every higher Timeframe directional Bias, we follow up that current trend with a lower timeframe
This is why I used the 4hr timeframe bullish setup in alignment with the daily timeframe
I just took a long trade on eurusd after price broke out of the Pre-Frankfy low and started reversing back into it.
Just took a long on EURUSD with 8 pip SL. Price broke out of the lower Asian range and is reversing back into it, creating a bullish engulfing in its trail which served as my buy signal. My profit target is 1.1850 where some Privately Negotiated Trades (PNT) were executed.
Just took a long trade and closed it for 8 pips
I saw this trade move, but I was late seeing the trade on trading view
I saw this trade move, but I was late seeing the trade on trading view
It headed for that 1.1850 PNT level i was chasing yesterday.
It headed for that 1.1850 PNT level i was chasing yesterday.
I just observed that
Today was a unique day in the market. This morning they were two sets of eurusd option clusters one between 1.1800 and 1.1810; and the other between 1.1760 to 1.1725. The market chose to move towards the 1.1725 cluster causing buyers to be stopped out and sellers to carry the day.
Learning point: whenever we have two conflicting option clusters, price will always move towards either of them first.
Price has reached the 1.1725 option expiry and is attempting to return towards the 800 level
"Clean read on this one. Price swept through the Asia range lows, took out liquidity sitting below that 1.1760 support zone, and drove straight into the 1.1725 option expiry textbook pinning behaviour you see when there's significant open interest at a strike. Market makers will defend that level into expiry, so the bounce attempt makes complete sense structurally.
Price has reached the 1.1725 option expiry and is attempting to return towards the 800 level
The key question now is whether this recovery is just a retrace before continuation lower.
Watch how price reacts back at that 1.1760 area, that's your major zone. If it flips back to resistance and sellers reload there, the bias stays bearish and 1.1700 becomes the next magnet. If we see a clean reclaim with momentum, then the 1.1800 round number comes back into play, which also aligns nicely with the grey supply zone marked on the chart from early London.
Price has reached the 1.1725 option expiry and is attempting to return towards the 800 level
Personally I wouldn't be chasing the long here off expiry alone — I'd want a higher timeframe confirmation before trusting this bounce. Option expiry pinning can reverse violently once the clock hits. Patience is the edge on moves like this."
Personally I wouldn't be chasing the long here off expiry alone — I'd want a higher timeframe confirmation before trusting this bounce. Option expiry pinning can reverse violently once the clock hits. Patience is the edge on moves like this."
For now, I am short eurusd although price seems to be pushing upwards towards the option expiries. If I get stopped out I will reposition for a buy.
For now, I am short eurusd although price seems to be pushing upwards towards the option expiries. If I get stopped out I will reposition for a buy.
Smart approach. Short until the market proves otherwise, if stopped out, the options expiries at 1.1800–1.1850 give a solid reason to flip long.
