EURUSD Long (short-term)
Updated
The pullback and bullish price action I've been waiting for happened, so I'm entering a buy stop order a few pips above latest high with TPs at base and R1 pivot lines respectively and SL near current middle BB.
It would be safer to put stop order above base fib line instead but since it's just a pullback instead of a movement supported by fundamentals (i.e. Article 50 about to be triggered next month, France possibly following suit in leaving EU, Trump's promised tax reforms, Yellen's rate hike confidence), EURUSD might either just recover up to base pivot line while testing current support before dropping further and most likely breaking past the 1.05 weekly support.
W:
D:
Confidence: B to C (since it's just going through a pullback, instead of doing a safer umbrella trading and sticking to fundamentals)
It would be safer to put stop order above base fib line instead but since it's just a pullback instead of a movement supported by fundamentals (i.e. Article 50 about to be triggered next month, France possibly following suit in leaving EU, Trump's promised tax reforms, Yellen's rate hike confidence), EURUSD might either just recover up to base pivot line while testing current support before dropping further and most likely breaking past the 1.05 weekly support.
W:
D:
Confidence: B to C (since it's just going through a pullback, instead of doing a safer umbrella trading and sticking to fundamentals)
Trade closed: target reached
1st TP was reached, the 2nd one wasn't and was manually closed to take in some profits.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.