EURUSD

stopped out

The 15M PA is indicating down. I was stopped out on my small long. A break of this on the downside was not good.

But the weekly is up, so I think we should wait for a clear trigger here for Long. I want to be long.

It can first go to 850-860 also on the downside. I'm on the side for now, but pre-Franky is down & broke the overnight low.

i am counting on early london to be bullish late london fall. Like yesterday.
Push till 900-910.
long again 0873 stop 5 pips.

assuming a pullback, risky trade. Let's see.
buy low sell high, cant sell low but trend down can be strong. I know i am contradicting here but i don't feel good shorting near 875.

It is important that Franky should fade the pre-Franky, and close above it. I'm long at 78, but half the size for now. I'll add to it, if it starts to go up.

Inverse.

Here's this week, it broke above, trend is up for the week.

It is right at the pre-Franky high right now, break above it is really important.

I think EU hit a major sell area, but trend up is still strong.
So we don't get sharp falls, rather gradual lower highs with deeper push.

Stopped out at 72.

yes.
voided the plan.

Its either a really strong long now or hard sell.
London will tell. If it break below franky gameover longs.

It could be or not (I mean strong long). I had a long at 65, I'm now out of it for 9 pips.

But at the same time, I don't think it makes sense to fight the intraday trend.

I'm long from 74, stop is at 69. Waiting to see if it breaks the pre-Franky high this time, or fails again.

I'm out, I've stopped myself at 77.

It's a range day. Below yesterdays low.
I am bored by the PA all out, not touching this till tomorrow.
Was up 22 pips at 0861 closed that for 12. It did double top could have taken 22, goes to show that the day is not going with me. Not fighting this anymore.

Done.
-40

The London trend is down, it is selling at the pre-Franky high (trading b/w Franky high & low, see attached 1H). There is no edge trading at this time.

I was up 10+ twice, but had to close it at 3-4, that's how it is today. There is no clear break here. But it's okay.

I'm done for the day. I'm down -3 pips for the day. See you tomorrow.

Sorry, just saw your response now.

Yes, the pre-Franky was down yesterday (today as well), and Frankfurt opened below the overnight range. So, you should look for a short on the pullback of the range low.

But sometimes, the risk with the follow signal is that you are risking too much, when you chase the trend. Because let's assume that you short the low, but the pullback is deeper & it stops you out.

I look at Franky & pre-Franky as a fade trade mostly, on a fakeout. The risk is extremely low on most days.

For example, see the attached chart. Two things could happen.
a. The overnight range low broke, it follows the downtrend.
b. The overnight range low broke, but it turns out to be a false break of the low. In those cases, you generally get a faster momentum on the other side.

Today is another example.
a. The overnight range low was broken by pre-Franky. If you consider fakeout, then you would look for a false break, like I was today.

b. Or if you assume the break is the trend, you would look for a pullback of the break to go short.

I had a long during the Frankfurt open at 387, it went up 6-7 pips, and then I was stopped out for -7.

The second entry was based on this Bullish engulfing at the range low. It was a false break trigger. I'm out of it near the overnight range high.

I'm up +5 pips for the day. I'm done for the week, see you next week.

I was also long on the first fake but got stopped out when price started falling. I saw the second breakout but couldn't trade it because my equity was depleted.