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Euro

Euro can decline to support level and then continue to move upHello traders, I want share with you my opinion about Euro. By observing the chart, we can see that the price some time ago rebounded from the resistance line of the wedge and fell to the support line, which coincided with the resistance level and started to grow. In a short time, EUR rose to the resistance line and then started to decline, thereby exiting from the wedge. Price continued to decline inside the downward channel, where it broke the 1.1000 level, which coincided with the seller zone and reached the support line, but at once rebounded and made a retest. Then it continued to fall and later reached the 1.0760 support level, which coincided with the buyer zone, after which turned around and bounced to the resistance line. Euro exited from the channel and continued to grow near the resistance line. When the price reached 1.0825 points, it made a downward impulse, thereby breaking the 1.0760 level, but a not long time ago it turned around and rose back. At the moment, the Euro trades near the support level, and in my mind, the price can correct to the support level and then continue to move up. Therefore I set my TP at 1.0900 points. Please share this idea with your friends and click Boost 🚀
Long
by LegionQ8
10
Smart Money Market Structure Order Block Trading🔸The principles of "smart money" trading focus on understanding the behavior of institutional investors, often referred to as "smart money," to make informed trading decisions. By analyzing market structure, order blocks, supply and demand zones, and market cycles, traders aim to predict price movements and make profitable trades. Here’s a breakdown of these key concepts and how they interact: 1. Market Structure Market structure is the fundamental flow of price movement, typically defined by highs and lows that indicate trends. The market can be seen in three primary states: ▪️Uptrend: Characterized by higher highs (HH) and higher lows (HL). ▪️Downtrend: Defined by lower highs (LH) and lower lows (LL). ▪️Consolidation (Range-bound): Prices oscillate between a support (demand) and resistance (supply) level. ▪️Understanding market structure helps traders identify when a market is trending or ranging, which is essential for timing entries and exits. 2. Order Blocks Order blocks are areas on a price chart where large institutional traders, like banks and hedge funds, execute significant orders. These blocks often indicate strong levels of support or resistance due to the substantial buying or selling activity. ▪️Bullish Order Block: Typically found before a strong upward move. It's the last bearish (down) candle before the price rallies, signaling a demand zone. ▪️Bearish Order Block: Typically found before a strong downward move. It's the last bullish (up) candle before the price drops, indicating a supply zone. ▪️Order blocks provide clues to where "smart money" has entered the market, suggesting areas where price may return for liquidity and where retail traders may find good entry points. 3. Supply and Demand Zones Supply and demand zones are similar to support and resistance levels but with a focus on identifying imbalances. They represent areas where supply (sellers) and demand (buyers) are significantly unbalanced: ▪️Demand Zone: A price range where buyers are strong enough to prevent further price drops. This often corresponds to an area of support. ▪️Supply Zone: A price range where sellers have historically stepped in to prevent further price increases, serving as resistance. ▪️Prices often revert to these zones due to liquidity needs, creating entry points for trend continuations or reversals. 4. Lower Highs (LH) and Higher Lows (HL) These are essential markers in identifying trend changes: ▪️Lower Highs (LH): In a downtrend, the price fails to reach a previous high, indicating seller dominance and potential continuation of the downtrend. ▪️Higher Lows (HL): In an uptrend, the price creates higher lows, suggesting that buyers are gradually gaining strength, signaling a continuation of the uptrend. These structural points help traders understand potential trend reversals or continuations. 5. Accumulation and Distribution Phases These phases are critical to the Wyckoff Market Cycle: ▪️Accumulation: This phase represents a period where "smart money" accumulates positions at low prices. It typically occurs after a downtrend and is characterized by a consolidation or sideways price movement. This phase often signals a future uptrend. ▪️Distribution: This is the phase where institutional players offload positions after a significant price increase. Like accumulation, distribution appears as consolidation, often preceding a downtrend. ▪️Accumulation and distribution are often analyzed using volume patterns and price action to gauge when a trend may begin or end. 6. Market Cycles (The Wyckoff Theory) Market cycles are a sequence of phases that price undergoes over time. According to Wyckoff’s methodology, there are four phases: ▪️Accumulation: Institutions build positions, often at a market bottom. ▪️Markup: After accumulation, the price starts to increase as demand outstrips supply. ▪️Distribution: Institutions sell off their positions, often at the top of the cycle. ▪️Markdown: Price declines as supply overwhelms demand, leading to a downtrend. ▪️Understanding these phases allows traders to anticipate potential turning points, which is critical in smart money trading. Applying These Principles in Trading The smart money trading approach uses these principles collectively: 🔸Identify Market Structure: Determine whether the market is trending or ranging, then identify order blocks, supply and demand zones, and significant highs and lows. 🔸Recognize Key Levels: Watch for accumulation and distribution phases at these levels, helping to anticipate likely future movements. 🔸Confirm with Volume: Use volume analysis to confirm accumulation or distribution activity. 🔸Set Entries and Exits at Smart Money Zones: Utilize identified order blocks and supply/demand zones to enter trades with the trend (markup or markdown) or exit before a reversal. 🔸By combining these elements, traders seek to align with the strategies of institutional investors, capturing trends early and minimizing exposure during less favorable periods.
Education
by ProjectSyndicate
7
HelenP. I Euro will rebound down from resistance zone to $1.0650Hi folks today I'm prepared for you Euro analytics. If we look at the chart we can see how the price trades near the resistance zone (1.1120/1.1090) and then breaks the 2nd resistance level and starts to trades below. Some time later price declined a little more, but soon turned around and rose to the resistance zone, breaking resistance 1 one more time. Next, Euro continued to grow and reached the trend line, after which turned around and started to decline. In a shor time, the price broke resistance 1 again and continued to fall to another one resistance zone (1.0790/1.0760), which coincided with the current resistance level. When the price reached this zone, it at once rebounded and rose to the trend line, but soon fell back to the resistance area, after which made a strong upward movement, breaking the trend line. Euro rose to 1.0940 points, making a gap also, and then made a strong impulse down. Price broke resistance 1 and reached the trend line, but a not long time ago it rose to this level and now trades very close. In my opinion, EURUSD will enter to resistance zone and then rebound down. For this case, I set my goal at 1.0650 points. If you like my analytics you may support me with your like/comment ❤️
Short
by FirstNameHelen
1
EURUSD giving a buy signal on amazing symmetry.EURUSD is under heavy selling pressure since the elections result. Still, today's 1day candle is the 3rd in a row that doesn't cross Support A. As you can see the pair displays an uncanny symmetry, having respected all symmetrical Resistance and Support levels since the Double Top of September 25th. This is a buy signal that is aiming at 1.09000 (June 4th High). Previous chart: Follow us, like the idea and leave a comment below!!
Short
by TheCryptagon
EURUSD strategic outlook: BEARS will target 1.0500🔸Hello guys, today let's review H8 price chart for eurusd. Previously recommended buying low near 1.0650, TP hit +400 pips, congrats if you followed. you can review original setup via link below. 🔸Range lows defined at 0650 , range highs set at 1050/1100. This is the active trading range for EURUSD since early 2023 it's well-defined and it's very unlikely that price will exit this range any time soon (not until 2026). 🔸Currently we got a strong rejection near range highs at 1100 and this resistance is too strong for the bulls to break atm, price was already rejected multiple times from this level. there are no bullish catalysts in euro zone to break 1.10/1.11 S/R. 🔸Recommended strategy position traders: bears focus on short selling rips/rallies, targeting range lows at 0500/0550. Bears will take over from here, so there is no valid setup for bulls on buy side. Keep in mind that this is a swing trade setup and provided low volatiliy in EURUSD it may take a while to hit the targets (multiple weeks). 🎁Please hit the like button and 🎁Leave a comment to support our team! RISK DISCLAIMER: Trading Futures , Forex, CFDs and Stocks involves a risk of loss. Please consider carefully if such trading is appropriate for you. Past performance is not indicative of future results. Always limit your leverage and use tight stop loss.
Short
by ProjectSyndicate
27
EURUSD MA50 (4h) rejection gives one more buy opportunity.EURUSD got rejected today on the MA50 (4h), after the price bottomed yesterday near the lows of the Channel Down. The rejection could technically be a final buy opportunity similar to the October 25th rejection, which lated resumed the uptrend and completed a +1.64% bullish wave. Trading Plan: 1. Buy on the current market price. Targets: 1. 1.08550 (+1.64% from the low). Tips: 1. The RSI (4h) crossed above the MA trend line, confirming that this is indeed a bullish wave. Please like, follow and comment!! Notes: Past trading plan:
Long
by TradingBrokersView
1
EURUSD map: Down to 1.04-1.00 Then Up to 1.16-1.21EURUSD is in the second leg down to complete a complex correction (red down arrows). There are three crucial target points for drop to watch: 1) Valley of red leg 1 at 1.0448 and 50% Fib at 1.0406 2) 61.8% Fib at 1.0200 3) Touch point of the throwback to broken trendline around parity Next is the reversal to upside within the large leg 2 up (blue up arrows). The possible targets depend on the depth of the current drop, the deeper the lower the upside target. From the first point of drop EURUSD could hit 1.21 area. From the lowest valley of parity it could reach 1.16 handle.
Education
by aibek
EURO - Price can enter to resistance area and then bounce downHi guys, this is my overview for EURUSD, feel free to check it and write your feedback in comments👊 Some days ago price grew inside rising channel, where it broke $1.1070 level and rose to resistance line. Then price made a correction, after which continued to grow, but when it reached resistance line again, EUR turned around. After this, price started to decline inside pennant, exiting from channel as well, and also soon broke $1.1070 level. Next, price fell until to support line, which coincided with $1.0760 level and at once bounced up. Euro rose to resistance line of pennant and then made downward impulse, exiting from pattern and breaking $1.0760 level. Now, I think that price can grow to resistance area, where it reaches resistance level, and then bounce down to $1.0550 If this post is useful to you, you can support me with like/boost and advice in comments❤️
Short
by WalterMoon
7
The Best Level to Short EURUSD TP +120/+240 pips🔸Hello traders, let's review the 6hour chart for EURUSD today. As expected previously we are getting a normal bounce off the fresh demand zone at 0800 currently closing on heavy overhead mirror s/r resistance. 🔸This setup falls in-line with my strategic outlook for EURUSD which is targeting 0500, review via link: 🔸Key mirror S/R detected at 0925/0945, most likely further upside is very limited in EURUSD so expecting fresh sell-side pressure and reversal from the key s/r zone. Bears will target fresh demand zone near 0700. 🔸Recommended strategy for EURUSD traders: focus on short selling high near 0925/0945 price cluster SL fixed at 40 pips TP1 +120 pips TP2 +240 pips final exit at 0700. Expecting rejection from overhead resistance and re-test of the mirror S/R level at 0700. good luck traders! 🎁Please hit the like button and 🎁Leave a comment to support our team! RISK DISCLAIMER: Trading Futures , Forex, CFDs and Stocks involves a risk of loss. Please consider carefully if such trading is appropriate for you. Past performance is not indicative of future results. Always limit your leverage and use tight stop loss.
Short
by ProjectSyndicate
28
EUR/USD Technical AnalysisFxNews —The EUR/USD currency pair stabilizes above the 100-period simple moving average and the 1.084 immediate support level. This occurs as Stochastic records show a reading of 82, indicating that the Euro is overpriced in the short term. Additionally, the Awesome Oscillator histogram is red, suggesting that the bear market is strengthening. Forecast From a technical perspective, the bullish outlook remains valid as long as the price holds above the 1.085 support level. In this scenario, the next target could be the 38.2% Fibonacci retracement level at 1.093. Please note that the bullish outlook should be considered invalid if the price dips below 1.084.
Long
by FxNews-me
EURUSD: Get ready for a fast short.EURUSD is neutral on its 1D technical outlook (RSI = 53.619, MACD = -0.004, ADX = 44.229) as it has started the new bullish wave following the test of the 1 year HL trendline but on 1H it got overbought (RSI = 76.034) rebounding very aggressively on its 1H MA50. That is fairly similar to the October 30th rebound of the bullish wave that topped upon a +1.15% rise. We are approaching that % increase so get ready to short. So far we have had two pullbacks of -0.56% each, an amazing display of symmetry inside the Channel Up. That is our target on the short term (TP = 1.08950). See how our prior idea has worked out: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Short
by InvestingScope
Euro can reach resistance line of upward channel and then dropHello traders, I want share with you my opinion about Euro. Observing the chart, we can see how the price some days ago entered to wedge, where it at once rebounded from the support line and rose to the resistance line, breaking the resistance level. Then, the price turned around and made a correction movement, below the resistance level to support line of the wedge pattern. Next, the Euro in a short time rose to the resistance line again, after which turned around and started to decline. In a short time, the price declined to the 1.1050 level, which coincided with the seller zone and broke it, thereby exiting from the wedge too and continuing to fall next. Later price fell to the 1.0840 support level, which coincided with the buyer zone and broke this level too. But then, the EUR turned around and started to grow inside the upward channel. So, soon, the price broke the support level again and even made a gap, after which continued to move up. For this moment, I think that the Euro can reach the resistance line of the channel and then drop to the support line, breaking the support level. That's why my TP is located at 1.0820 points. Please share this idea with your friends and click Boost 🚀
Short
by LegionQ8
6
EURUSD: Will It Retrace to POI?Our philosophy focuses on simplicity and precision, avoiding cognitive overload. On the daily chart, EURUSD is trading within Range Zone. If another daily candle closes bullish above $1.086 (the Daily Range Bottom), it could push the price up to the Range Top at $1.1, which is our Daily Point of Interest (Daily POI). The Mid Daily Range may act as minor resistance on this move. If EURUSD falls below the Daily Range Bottom, it enters a bearish zone, with the next target around Key Daily Level 1↓ at $1.066. Alternatively, a bullish breakout above the Daily Range Top could extend gains to the Minor Daily Level at $1.112. Though, this scenario is secondary as long as EURUSD remains within the Daily Range Zone.
by Trade-Lean
EURO - Price can leave wedge and decline to support levelHi guys, this is my overview for EURUSD, feel free to check it and write your feedback in comments👊 Recently price broke $1.0885 level and continued to decline inside falling channel, where it at once fell to support line. Then price bounced to resistance line of channel and then declined to $1.0785 level and even broke it. Price fell to support line, after which made upward impulse, thereby breaking $1.0785 level again and exiting from channel. Next, Euro entered to wedge, made correction to support line, and then started to grow to resistance level. A not long time ago, price reached this level, and some time traded near, but soon bounced down. At the moment, I think EUR can make a rise movement and then fall to $1.0785 support level, exiting from the wedge. If this post is useful to you, you can support me with like/boost and advice in comments❤️
Short
by WalterMoon
4
EUR/USD Surges as U.S. Political Uncertainty Ahead of Key EventsDuring Monday’s European session, the EUR/USD currency pair is making headlines by hovering around the 1.0900 mark. With an ambitious target of 1.09780 in sight, this major currency pair is showing a notable surge at the expense of the U.S. Dollar (USD). This movement comes amid rising uncertainty as the United States approaches its presidential election on Tuesday, alongside the Federal Reserve's monetary policy meeting later in the week. A Bearish Start for the U.S. Dollar As the new week begins, the U.S. Dollar is experiencing a bearish trend, reflected in the decline of the U.S. Dollar Index (DXY). Market participants are especially focused on the tight race shaping up between former President Donald Trump and current Vice President Kamala Harris, fueling a climate of uncertainty around the election outcomes. The anticipation surrounding the elections appears to have contributed to a flight from the dollar, as traders brace for potential volatility based on the implications of the election results. Technical Analysis: No Major Changes From a technical perspective, the current market behavior reflects continuity rather than change. Price levels remain largely similar to those observed in previous weeks, suggesting a moment of stabilization as traders await catalysts that could lead to clearer directional moves. Additionally, the Commitment of Traders (COT) report indicates that the positioning of traders has not changed significantly, continuing to reflect the trends seen last week. Preparing for Election Aftermath As the market gears up for the immediate aftermath of the elections, traders should be prepared for substantial fluctuations. The uncertainty regarding the election outcomes and the potential shifts in U.S. monetary policy are poised to create considerable movement across various asset classes. Depending on who emerges victorious, expectations for fiscal strategies, regulatory changes, and economic recovery plans may influence market sentiment and asset performance for weeks to come. Conclusion In conclusion, the EUR/USD's rise toward the 1.09780 target reflects broader market dynamics influenced by political uncertainty in the United States. As participants navigate this complex landscape, the interplay between election outcomes and central bank policies will be crucial to the future trajectory of the currency pair. Traders are advised to remain vigilant, as upcoming events could lead to significant volatility, reshaping market expectations and price actions in the process. Previous Forecast: ✅ Please share your thoughts about EUR/USD in the comments section below and HIT LIKE if you appreciate my analysis. Don't forget to FOLLOW ME; you will help us a lot with this small contribution.
Long
by FOREXN1
1
EUR/USD Starts Tuesday with Optimism Amid Mixed Dollar StrengthThe EUR/USD pair opened Tuesday with a positive sentiment, trading at 1.08230 as of this writing. This follows a shaky start to the week for the US Dollar (USD), which initially showed strength but saw limited momentum as investors opted for caution, especially in the absence of major economic data or fundamental drivers early in the week. ECB’s Cautious Tone Amid Inflation Progress On Monday, ECB Vice President Luis de Guindos offered insights into the central bank’s view on inflation, noting that while there has been substantial progress in reducing inflation, it's premature to assume that the battle is over. His statements suggested that the ECB will maintain a flexible stance on monetary policy, leaving room for adjustments depending on economic developments. This cautious, yet open stance by the ECB may lend some support to the euro, as markets interpret the ECB's careful monitoring of inflation as a signal that interest rate hikes could still be in the realm of possibility. Focus on U.S. JOLTS Job Openings Data Later in the day, the US Bureau of Labor Statistics will release the JOLTS Job Openings data for September, which may influence USD sentiment. Markets are anticipating job openings to slightly decrease to 7.99 million, from 8.04 million in August. However, should the reading exceed expectations, particularly if it reaches 8.5 million or higher, it could reinforce USD strength as it would indicate continued labor market resilience—a key factor for the Federal Reserve's policy decisions. Conversely, a reading below 7.5 million might dampen USD appeal, as it would suggest cooling in the labor market, potentially leading the Fed to reconsider its tightening pace. Technical Overview: EUR/USD Positioned Near Demand Zone From a technical perspective, EUR/USD is showing some resilience around a demand zone, though it isn’t the strongest of support levels. The pair’s recent reaction in this area suggests some buying interest that could offer temporary support. Given this positioning, a long position might be worth considering if the upcoming JOLTS data provides a supportive backdrop by coming in below expectations, potentially weakening the USD. On the other hand, if the data surprises on the upside, EUR/USD might test lower levels, and the demand zone’s strength could be challenged. Conclusion In summary, the EUR/USD outlook today hinges significantly on the JOLTS report, with the euro finding slight support from the ECB's cautious optimism on inflation. A supportive labor report could provide USD strength, but a weaker-than-expected report may favor euro bulls, positioning EUR/USD for further upside near current demand levels. With this dynamic, traders might consider waiting for the JOLTS data before committing to positions, using it as a potential trigger for directionality in this volatile environment. ✅ Please share your thoughts about EUR/USD in the comments section below and HIT LIKE if you appreciate my analysis. Don't forget to FOLLOW ME; you will help us a lot with this small contribution.
Long
by FOREXN1
1
EURUSD targeting 1.0500 after the 1W MA100 rejection.Late August (Aug 26, see chart below) saw us emphasizing the critical role of the Lower Highs trend-line, being the top of a multi-year Falling Wedge pattern that started at the peak of the 2008 Housing Crisis, and its important on the long-term trend, with a break-out being bullish while a rejection being bearish: The price was eventually rejected exactly at the top and at the same time the 1W MA100 (green trend-line), which did the July 2023 rejection. That rejection initiated a correction back to the Symmetrical Support Zone of 2015. As a result, we expect EURUSD to gradually descend towards that Zone and by mid 2025, hit 1.0500. Notice also that the 1W RSI also got very close to its 15-year Resistance Zone. This has triggered in the past more brutal sell-offs. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
Short
by TradingShot
fib at 1.1034fibonnaci at 1.1034, it is my 1st target and first real ressistance, appart of not beeing there the price for long in my pov, but dxy has a resistance on the 16th of august at that level wht can invade the long posistion making a bigger resistance, but imo it will might go to 1.12 to 1.14 but only the markets can say, and be careful on election day. keep ur trading safe, do your own analysis, you can take value in others persons analysis but do ur own, and keep ur risk safe, take care at elections day, it can change everything,.
Long
by Carlosdrcunha
EURUSD 3/11/24This week, our bias on the Euro has shifted from short to long. This change is based on observing a shift in the higher time frame structure, as institutions appear to be showing interest in buying. Whether this move will be short-term or long-term remains to be seen. We’ll watch the price action in the first sessions of the week to get a clearer idea. Please note, this analysis follows the same principles and bias approach as always. Currently, there are no unmitigated demand areas on the 4-hour chart, and only a short-term supply area has formed. The area of demand we’ve highlighted is present only on the 1-hour chart, making it more of a smaller time frame reference than a higher one. We’ve marked key liquidity levels, which will serve as our reference points for potential upward movement this week. If the price interacts with the 1-hour demand area, we’ll aim for the high at the top of the current range. While I’m ultimately looking for a longer-term upward move, a pullback beforehand is possible. Stick to your plan and manage your risk.
by rosshayes
Creating your Trading Plan🔸Creating a comprehensive trading plan is a foundational step for any trader, whether you are involved in forex, stocks, options, or crypto markets. A well-structured trading plan outlines your trading goals, strategy, risk management protocols, and the psychological mindset necessary for success. Let’s break down the core components: strategy, risk management, psychology, and confluence. 1. Trading Plan Strategy A trading strategy is a set of rules or guidelines you follow to identify, enter, and exit trades. Here are the elements to consider: ▪️Market Selection: Define which markets you will trade (e.g., forex pairs, stocks, cryptocurrencies) and what your time frames will be. ▪️Trading Style: Will you be a day trader, swing trader, or a long-term investor? Your style will influence your strategy. ▪️Entry and Exit Rules: Specify the technical or fundamental indicators that will trigger your trades. For example, you might use moving average crossovers, support and resistance levels, or candlestick patterns for entry and exit points. ▪️Trade Execution: Outline how you will place trades and manage your orders (e.g., market orders, limit orders, trailing stops). ▪️Backtesting: Before committing real money, test your strategy on historical data to understand its effectiveness. ▪️Example: Suppose your strategy involves trading breakouts. You would define what constitutes a breakout, how to confirm it, and the risk/reward ratio you expect before taking a trade. 2. Risk Management Risk management is about preserving your capital and minimizing losses. It's a critical part of any trading plan and focuses on controlling how much you stand to lose on each trade and how to protect your account over time. ▪️Position Sizing: Determine how much of your capital you will risk per trade. Many traders risk no more than 1-2% of their total capital on a single trade. ▪️Stop Losses and Take Profits: Always use a stop-loss to cap potential losses and set a take-profit order to lock in gains. This should be part of your trading strategy. ▪️Risk/Reward Ratio: Ensure that the potential reward on a trade is worth the risk. A common minimum risk/reward ratio is 1:2, meaning you risk 1 unit of currency to make 2. Diversification: Spread your risk by trading multiple assets or markets instead of concentrating all your capital in a single trade or asset class. ▪️Example: If your account balance is $10,000, and you decide to risk 2% per trade, the maximum loss you would accept on any trade would be $200. This would dictate your stop-loss placement and position size. 3. Trading Psychology The psychological aspect of trading is often underestimated, but emotions can greatly impact your decision-making. Maintaining a disciplined and objective mindset is crucial. ▪️Emotional Discipline: Avoid trading based on fear, greed, or impatience. Develop routines that keep your emotions in check. ▪️Handling Losses: Accept that losses are part of trading and learn not to let them affect your confidence or decision-making. Sticking to your plan, even after a loss, is crucial. ▪️Confidence and Patience: Build confidence in your strategy through thorough backtesting and practice. Be patient and wait for high-probability setups. ▪️Avoid Overtrading: This happens when traders try to chase losses or enter trades impulsively. Stick to your plan and don’t trade just for the sake of it. ▪️Example: If you find yourself becoming anxious or stressed during a losing streak, take a break from trading to reassess your mindset. Practicing mindfulness or keeping a trading journal to reflect on your emotions can be very helpful. 4. Confluence Confluence in trading refers to multiple factors or signals aligning to indicate a strong trade setup. Relying on confluence increases the probability of a trade working in your favor. ▪️Technical Confluence: This might include a combination of support/resistance levels, Fibonacci retracement levels, moving averages, or chart patterns lining up to give you a higher confidence trade. ▪️Fundamental and Technical Confluence: Sometimes, combining technical analysis with fundamental data can strengthen your trade setup. For instance, a bullish technical setup supported by positive economic news. ▪️Multiple Time Frame Analysis: Check if your trade setup looks strong on multiple time frames. For example, a bullish signal on a daily chart confirmed by a shorter time frame like 4-hour or 1-hour charts. ▪️Example: Imagine you see a bullish reversal candlestick pattern at a major support level, and your moving average indicates an upward trend. This confluence of signals might give you more confidence to enter a long position. 🔸Putting It All Together A successful trading plan ties these elements together to give you a clear roadmap. Here’s a simplified example of a trading plan: 🔸Goal: Achieve 5% account growth per month. Market: Trade major forex pairs (e.g., EUR/USD, GBP/USD) during the London and New York sessions. 🔸Strategy: Use a breakout strategy confirmed by volume and momentum indicators. Enter trades when a breakout occurs from a key support/resistance level. 🔸Risk Management: Risk 1.5% of the account balance per trade. Use a 1:2 risk/reward ratio. 🔸Psychology: Practice emotional discipline. Use a trading journal to record trades and emotions. 🔸Confluence: Only take trades when at least three confluence factors align (e.g., breakout, volume increase, trend confirmation). 🔸By crafting and following a trading plan that incorporates strategy, risk management, psychology, and confluence, you increase your chances of trading success while minimizing potential losses.
Education
by ProjectSyndicate
11
Euro can fall to support level and then start to move upHello traders, I want share with you my opinion about Euro. Looking at the chart, we can see how the price fell to the seller zone, which coincided with the resistance level and at once rebounded up. Price in a short time rose to 1.1210 points and then turned around and started to decline inside the downward channel. In the channel, the price soon broke the 1.1085 level and then fell almost the support line of the channel, after which EUR bounced and continued to decline. Later Euro fell to the support level, which coincided with the support line of the downward channel with the buyer zone. After this, the price continued to decline and soon, broke the 1.0810 level and entered to buyer zone, after which turned around, and some time traded between support level. Last time, the price fell to the buyer zone and then rebounded up, thereby breaking the 1.0810 level again, and then exited from the channel too. At the moment, I think that Euro can correct to a support level and then start to grow. For this case, I set my TP at 1.0980 points. Please share this idea with your friends and click Boost 🚀
Long
by LegionQ8
7