Long

Updated

EUR/USD Trend continuation

Hello,

My idea on EUR/USD:

I see a long opportunity setting up for the next week. Recent sell zone was broken, going through recent sellers' startign point. I am looking to buy this on the pull back based on H4 chart.
First buy zone - around 1.2600.
Second zone - around the recent support ( it depends on the movement )
Let's see how deep it goes.

Note

H4 outlook:

The current movement looks really strong as it is getting closer to the first buy zone. I anticipate some kind of a slow down or a probe through it before taking a position . If I don't see such things or any signs of buyers coming back, I will be patient and wait the next important support area.

Note

Sorry. First buy zone 1.2360.

Note

I am still standing by. The price entered first buying zone but the movement looks aggressive. Judging from the H1 chart, we've some buying pressure but nothing yet. I would consider an entry if the price creates a bottom. In other words, holding around this zone and this was just a spike. Otherwise, I will wait for the next zone.

Note

The stalking for an entry starts now. Price just arrived at second buy zone where it reacted last time.
H4 shows breach through the recent seller. Wait a decent hold or slow downside test movement.
First potential target - 1.2400
The main target wil be the recent high.

Note

This is how I see DXY:

Note

Test phase started. Looks strong. We can keep an eye on H1 if this seller cannot make it ( new lower low) on its way down. Any sign of aggression here will be a sign of entry.
I will be busy today but I will probaly check every hour this one.

Trade active

I am in. I wasn't able to update in time. It is still in a decent spot to enter.
Looks like the price is not willing to fall and it is actually trying to make a lower high.
I've marked the spots where we should manage our trade.

Note

Notice the reaction of the current zone. Respecting this small support area.
I meant Higher low - in my previous update.

Note

The speed looks fine. The price is getting closer to a lower time frame resistance but I will keep the stop losses as I initially got in. In case it reaches 1.2400, we can take some profit there.

Note

I will be looking to add more positions to this one if I get a strong upside breach and pullback to it.

Note

Got stopped out on this one. Looks like it will be a bigger time frame pullback if 1.2200 is being breached.

ddreamz

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ddreamz