EUR/USD Beginner Level trading

Looking like a buy now, see bullish engulfing at prefranky low

Now looking like a sell again with rejection at pre-franky high

The market is just ranging, with no clear direction

Looking at the chart, it's been chopping around in a pretty tight range since the early hours, especially after that Asia session move.

Yeah the market is indecisive, in such a case it is best to sit on your hands and do nothing.

Forcing trades in low volatility, directionless conditions is one of the quickest ways to bleed your account through chop and fake outs.

Better to wait for a clear breakout with volume or some catalyst that actually moves price decisively out of this range. Until then, patience is the highest probability play.

I have taken a long trade with SL outside the Asian range and profit target at yesterdays 4PM FIX of 1.1700

Price has begun its journey towards the London FIX

Price has begun its journey towards the London FIX

Price has begun its journey towards the London FIX, nothing is guaranteed but usually on the last working day of the month price tries to interact with the FIX at some point.

Price is still moving upwards towards the FIX

Price is almost at the FIX

TP smashed for 40 pips, so price moved towards the FIX as anticipated.

Nice setup...

Took a buy too but yet to trigger my TP

👍

Just took a short trade, after price rejected at the Pre-Franky low and kept falling. Oil price are really high so I am expecting the us dollar to strengthen (meaning eurusd price should go down). yesterday the us dollar weakened due to month-end sell-off for portfolio re-balancing but for today I expect the dollar to strengthen hence my short outlook.

Got stopped out of my short

I just took a short on eurusd after seeing the fake of pre-high

I am closing the trade here for 6 pips profit because price is rejecting at the weekend gap and may start going up.