EURUSD - Scalping for next Monday
This is a setup for the next Monday. Weekly or intraday (whatever you prefer)
Monday is pretty much free of fundamentals so expect technical aspects to decide Monday's outcome.
I have two areas of interest.
1st
The one more likely is the blue circle where major support and Hagopian intersect.
As soon as the price hits the blue circle I will buy. The price needs to fall exponentially in order to expect a bounce, just like the purple curve. Else it's not advisable. Take profit at 1.1079 as in this case you trade against the trend and the price may go back down after hitting 1.1079, 1.10870 or 1.10960.
2nd
Less likely but potentially more profitable is the orange circle where two resistance lines and Hagopian intersect.
As soon as the price hits the orange circle I will sell. The price needs to rise exponentially to sell it. If the price bounces @ 1.11866, get out. Else wait for the price to hit the potential red support line.
This of course is IF-THEN-ELSE chart. If the price action doesn't meet all the criteria, then whole setup is irrelevant and you should skip.
P.S.
Ignore the "green circle" in chart text. There are no green circles. Changed to orange and blue to distinguish them.
Monday is pretty much free of fundamentals so expect technical aspects to decide Monday's outcome.
I have two areas of interest.
1st
The one more likely is the blue circle where major support and Hagopian intersect.
As soon as the price hits the blue circle I will buy. The price needs to fall exponentially in order to expect a bounce, just like the purple curve. Else it's not advisable. Take profit at 1.1079 as in this case you trade against the trend and the price may go back down after hitting 1.1079, 1.10870 or 1.10960.
2nd
Less likely but potentially more profitable is the orange circle where two resistance lines and Hagopian intersect.
As soon as the price hits the orange circle I will sell. The price needs to rise exponentially to sell it. If the price bounces @ 1.11866, get out. Else wait for the price to hit the potential red support line.
This of course is IF-THEN-ELSE chart. If the price action doesn't meet all the criteria, then whole setup is irrelevant and you should skip.
P.S.
Ignore the "green circle" in chart text. There are no green circles. Changed to orange and blue to distinguish them.
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