EUR/USD Beginner Level trading

SELL 1.1437

EXIT 1.1424

Today was a classic franky reversal move, price broke out of the upper Asian range, and reversed back in. The playbook here is to sell upon spotting a bearish engulfing reversal pattern, I spotted it on the 15 minute time frame. I held the trade from end-to-end meaning from one end of the box to the other end

Took a two long trades today and they went into profit only for price to reverse and hit SL

BUY 1.1445

SL @ breakeven

Today I took a buy during Frankfurt session after my initial sell (during pre0 failed. Trade is in progress.

Stopped out of the buy at breakeven. I will switch bias to sell now because I have spotted a sell signal

SELL 1.1447

SL 1.1437

TP estimate 1.1400

Trade in progress SL adjusted for breakeven just incase price decides to be silly

TP 1 smashed.

TP2 in view, it is set at 1.1400

Note: cTrader allows you set multiple take profits for one trade but your lot size must be above 0.01 for this feature to work

Second half of the trade closed in profit, I couldn't wait for price to get to 1.1400. it was a good day

Profit of 13 pips on one leg and 19 pips on the other leg of the short

Last Week in a Nutshell

On all week days except Thursday, session high/lows were set during Pre-Frankfurt or Frankfurt hour. This is a pattern I observed and I hope it continues this week

I will be watching around the 1.13822 support level this week

The Frankfurt session just opened by 7 am UTC+1 so I have boxed out my Asian range and I am getting ready to trade

Good morning! Ready to trade too, but during New York session.

Took a buy at 1.1441 with profit target at 1.1450 where some PNT.s are seated

TP target reached, I have closed out with profit as seen on the 1-minute chart attached

Trade Explanation

Today, we had 4,320 Privately Negotiated Trades (PNT) waiting to be filled at the 1.1450 price level which meant to me that price may push upwards towards 1.1450

However, there were also option barriers sitting below the 6 am opening price of 1.1440, these option orders were at 1.1425 and 1.1400.

So there was a stalemate, it was either price pushed upwards towards the PNT level of 1.1450 or downward towards 1.1425-1.1400.

Initially I took a sell trade aiming for 1.1400 during Frankfurt open but when I saw the bullish engulfing form at the start of London I knew London was going to reverse Frankfurt so I closed the sell at a loss and switched to a buy then recovered the loss and made a little profit.

I closed the buy trade when price was at the 1.1450 level and immediately price got there it stated reversing.

The London open is notorious for reversing the Frankfurt move, that's why even though Frankfurt was down, I switched to buy once London opened and I saw a bullish engulfing pattern

BUY 1.1420

SL 1.14165

I just took a buy during Frankfurt, I hope to hold till London session begins before closing. London session has been setting the high/low of the day recently so if I see a reversal pattern when London opens, I will close out immediately

I took a sell on EUR/USD at 1.14106 with an 8 pip SL.

The repeating pattern since Monday has been that London session has been setting the low, it happened on Monday and Tuesday.

I had gone short during Frankfurt but got stopped out at yesterdays London session low, then I went short again at 1.14106.

I took 3 short trades today and was stopped out of all of them.

TRADE 1

Taken during the Pre-Frankfurt hour, i shorted at 1.1406 but was stopped out

TRADE 2

Taken during the start of the Frankfurt session, I shorted again at 1.1409 but was stopped out again

TRADE 3

Taken during the London session, I shorted at 1.1410 but was stopped out several hours later during the New York session, I should have taken profit on this one because I was up nearly 10 pips but I got greedy