EURUSD
Without getting into too much detail (you fill the blanks on your own, I'll not hand out my full strategy), mark the highs & lows of the Tokyo session.
It's highs & lows generally act as important pivots (not in typical pivot sense of high + low + close). If you get a break to one side of the high & lows, you can then enter position with a stop on the other side of that range.
Do note that on some days you will get false breaks on one side (mostly during the LO) & then break to the opposite side.
If you can take higher risk (but small stops), then preemptively enter when the price is inside the box during LO.
I've shared out the Tokyo bars in the chart, but only marked highs & lows of the box/range.
The boxes you see in the chart are the Tokyo session range on 30M chart. Use 10M chart to find the lowest stop entry.
Do this exercise over & over, you will start to see the break happening daily during London.
Almost 3-4 out of 10 times you will get these choppy London like this one in the chart attached.
At worst on these days, your SL will get hit, but it will be a small stop. Or you would at best get BE.
But if the day is trending, you will get very good RR.
The boxes you see in the chart are the Tokyo session range on 30M chart. Use 10M chart to find the lowest stop entry.
Do this exercise over & over, you will start to see the break happening daily during London.
Almost 3-4 out of 10 times you will get these choppy London like this one in the chart attached.
At worst on these days, your SL will get hit, but it will be a small stop. Or you would at best get BE.
But if the day is trending, you will get very good RR.
On some odd days, most during important news days, when you have important news coming out during NY session, you will have London just trade inside the Asian range & never break it.
If you are only trading the break, you will never enter on such days. Not that you don't trade break at any time. It is only during LO bar.
Mark the range, lower your TF & you will start to see.
I've a long position at 029 with stops just below the lows, I'll update it here.
I've a long position at 029 with stops just below the lows, I'll update it here.
I meant 09279, sorry a typo. Generally, as per my tests, on such days, you could get a reversal or some pullback around the 9:20 bar if it sustains a break higher of this bar.
Update: BE was hit. It did not push higher. The low of this bar around 26 is important. We could push lower & continue the LO trend if it breaks to the downside.
I meant 09279, sorry a typo. Generally, as per my tests, on such days, you could get a reversal or some pullback around the 9:20 bar if it sustains a break higher of this bar.
Update: BE was hit. It did not push higher. The low of this bar around 26 is important. We could push lower & continue the LO trend if it breaks to the downside.
A break lower would open up the 0900 level around which is also the yesterday's LO.
We could either range here b/w this low & 935, which is a possibility, or we could break lower & test the major 900 level.
A break lower would open up the 0900 level around which is also the yesterday's LO.
We could either range here b/w this low & 935, which is a possibility, or we could break lower & test the major 900 level.
I'm currently flat for now. I'm not going to take any more position for the session.
A break lower would open up the 0900 level around which is also the yesterday's LO.
We could either range here b/w this low & 935, which is a possibility, or we could break lower & test the major 900 level.
Quick Update: The 900x levels which was the LO from yesterday have held up the price for now.
This is the inverse EURUSD Daily chart, changed to London close (this is important). Price did not break it.
This is an important level to watch. I'm on sideline waiting. Good luck to those who are trading this.
Quick Update: The 900x levels which was the LO from yesterday have held up the price for now.
This is the inverse EURUSD Daily chart, changed to London close (this is important). Price did not break it.
This is an important level to watch. I'm on sideline waiting. Good luck to those who are trading this.
My guess is that we go sideways here for a few days. But I could be totally wrong on this.
Often on EUR/USD, you have big push & then the price stalls.
We did break down on the Dollar. Quite weak data coming from the US today.
This now opens up the 102.20x level on the DXY. Refer to my previously posted chart (I posted it yesterday mentioning that I see this as possible scenario).
I did not do much today.
There was my setup today at London, but could not take it as I was not in the right mindset today. I'll stay out away right now, because I think my decisions would be bad because of missing out on my entry.
I am feeling desperate to enter because I missed the Long on London bar, which was as per my setup, so I'll just stay sidelined.
The DXY target level of 102.20x that I mentioned was hit yesterday & we had a solid bounce off of it to 103.20x (around yesterday's high).
I missed the up move on DXY entirely. It was at my level, but I could not get in at the LO today.
My guess is that we will range here. Previously as well, we had lot of chop in this region of you look to the left on my chart.
Sell or buy on edges only.
Week is still bullish bias, which is why shorts should only be taken at edges.
Took a long,running 1/3.
Approaching 0927-0930 this could push it down waiting for PA to sell is best option.
The DXY target level of 102.20x that I mentioned was hit yesterday & we had a solid bounce off of it to 103.20x (around yesterday's high).
I missed the up move on DXY entirely. It was at my level, but I could not get in at the LO today.
My guess is that we will range here. Previously as well, we had lot of chop in this region of you look to the left on my chart.
Update: We are still holding above 0900 in a range that I mentioned yesterday.
Break of 900 is important if we are to move lower.
Attached is the 2H Inverse EURUSD chart. We are still holding the levels. A break above what I've marked on the chart is important.
Till then, you buy at the edges around 900. Frankie low buy trade today was really good. We are still stuck in the Asian range today.
Sell or buy on edges only.
Week is still bullish bias, which is why shorts should only be taken at edges.
Yes, only trade the edges (090x on the lower side as close to 900 as possible), which is also the Asian low today.
I agree that weekly is still Bullish, but if we break 900, with strong close below the Monday bar, I think shorts would be in order.
Let's wait & see where it closes today.
I'm long at the range low of the NY session at the double test.
Right now SL is at BE, and I've exited half the position at the range high at around 9233.
Will decide to add to it if we break the high, which is not looking promising right now.
I'm long at the range low of the NY session at the double test.
Right now SL is at BE, and I've exited half the position at the range high at around 9233.
Will decide to add to it if we break the high, which is not looking promising right now.
We are still trading inside of the intraday Asian range. Nothing much to do. I've exited the rest of the position as well.
Yes, we could break to the upside. But I don't like the slow price here.
We are still trading inside of the intraday Asian range. Nothing much to do. I've exited the rest of the position as well.
Yes, we could break to the upside. But I don't like the slow price here.
It has not broken the high, I've already exited all of my position around 256.
This sucks, I should have waited at BE & let it test the Asian high at 30, because this is a lot at the size I'm trading.
I'll call it day & trade again during the LO tomorrow.
It has not broken the high, I've already exited all of my position around 256.
This sucks, I should have waited at BE & let it test the Asian high at 30, because this is a lot at the size I'm trading.
I'll call it day & trade again during the LO tomorrow.
I meant *now broken (not was a typo). They should allow editing on this platform.
We have closed on Daily (London close), still in the expected range. It did not break the 900 on the downside.
I still think we will range here inside the Monday bar for few days before the next move, whatever it is, whether up or down.
Also, adding this for higher TF context, second chart is the Quarterly Inverse EURUSD chart.
We are still trading in a very tight range for just over an year now. And it is compressing, meaning we could actually chop around more between levels.
Break to either side would be meaningful Dollar move if & when that happens. Right now, nothing.
We have closed on Daily (London close), still in the expected range. It did not break the 900 on the downside.
I still think we will range here inside the Monday bar for few days before the next move, whatever it is, whether up or down.
Also, adding this for higher TF context, second chart is the Quarterly Inverse EURUSD chart.
We are still trading in a very tight range for just over an year now. And it is compressing, meaning we could actually chop around more between levels.
Break to either side would be meaningful Dollar move if & when that happens. Right now, nothing.
This has been the patter for few weeks now.
High or low of LO, then around 10:30, we get the move in opposite direction, or we just follow through with the original trend at LO. See the circles marked on the 10M chart today during the London session.
There is a pattern to it, you will see when we have what if you notice carefully.
As I had updated here at night, that I'm anticipating a range here above 900.
I'm short since the morning at the break of the LO range.
Frankie broke to upside but directly at the 945 level, which was the LO from Tuesday. LO did not follow through, we had this mini range, marked with circle. I took it at the break of the range & added another at 09309.
Both are at BE now because we are near end of the session & not getting further follow through.
I will hold it for the NY session, my position on this trade is lower than my average.
