EURUSD Day Trades – March 12

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EURUSD Day Trades – March 12

A trending morning for the EURUSD which provided a couple opportunities I liked. The first came in the London session prior the US open.

Usually I use a 1-minute chart, but a quick look at the 5-minute chart convinced me I should use it today, as the entry points were a bit cleaner. On the 1-minute chart the price was “riding” my envelope lines (envelopes introduced here), whereas the 5-minute bars were touching the lines and bouncing off. Since the entry prices will vary on the different time frames, I will always opt to trade the time frame that is “respecting” my indicator(s) to a higher degree.

The first trade occurred when the price reached my lower envelope during an uptrend. At this point all signs were “Go” for the long as we were making higher highs and higher lows. Used a 3.5 pip stop, and a Fibonacci Extension tool to provide some possible targets.

I originally planned on using the 100 level to take profit, but when the price failed to reach it on the first rally, and then pulled back, this created a triangle pattern and another opportunity to go long at my envelope (as well as the rising trendline).

1. EURUSD 5 Minute Chart

Since the price was still making higher lows, I moved up my stop from the first position to just below the second entry. When the price broke above the top of the triangle I edged my target up to the 138.2 level (check mark). The price did continue to run, but there was some whipsaw like action within the 5-minute bar I got out on, so given the price action prior (rather sedate) it was a good exit. The profit was about 7 times my original risk, and with two positions there’s no need to get greedy.

The next trade came on the pull back after the strong run up. The pullback was fairly strong so I waited for a price to pause before I entered at the lower envelope. By “pause” I mean I waited for bar that first touch the envelope to complete, and then let the next bar complete as well. Since the price was still at my envelope that was enough confirmation for me to go long, since the pause alleviated some of the potential that the price was going to blow right through me and keep dropping.

2. EURUSD 5 Minute Chart

3.5 pip stop again, which managed to hold through another small pullback. The price then popped higher, but was quickly met by selling, well below the former high. Based on the deep pullback and hesitation to move higher well below a former high, I opted to pull out of the trade. This resulted in a tiny profit on this trade.

There is a fine line between being too aggressive and being too conservative. Your trading method should help you find that balance. Being patient enough to wait for good entries, take more profit when the market is offering it and being able to take a small profit or loss when there is evidence the tides are turning against you. As corny as it sounds, one of the best ways to maintain this balance is to analyze the market by talking out loud–stating your expectations, as well as voicing all other possibilities you see, and then deciding verbally how you will proceed with a trade, or why you have decided not take a trade. While in a trade, continue to talk, staying on top of changing market conditions so you can quickly adapt.

EURUSD Day Trades – March 12

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EURUSD Forex Chart

Ideas

hey guys, on EURUSD chart we see a perfect example of how a trader can variate a risk: we have three perfect entry levels for long trade: 1.08 level – current structure (previous low) 1.07 level – current structure low 1.06 level – support of the major channel 1.06 level gives the safest long entry with a very tight stop.

Please support this idea with LIKE if you find it useful. Price still inside of the Falling Wedge, but breakout of horizontal support zone will be a total invalidation for the pattern. Plus overall we have a Descending Channel which can be confirmed by the the breakout of horizontal resistance, then down we go. What if we have an alternative scenario where.

Two scripts: Breakout from level 1.09 Breakdown of level 1.78 what do you think? Friends, thanks for your likes and comments! Good luck with trading!

You will learn the best place where we can trade EURUSD at low risk. Write in the comments all your questions and instruments analysis of which you want to see. Friends push the like button if you like the idea – that would be the best THANK YOU. Thank you for your support, I Love it.

Traders, EURUSD like DXY has been fooling traders. It has been creating indecision. However if you look under the bonnet, you will see that it has been hiding opportunities. Support and motivate me by hitting the like button, subscribing to my channel and sharing this analysis with other traders. Comment below and let me know what you think of this analysis and.

Hello people. Just before Monday want to show you what I think can happen during next week on EUR / USD. I recommend to see what will happen on Monday. Wait in buy zone for more confidence in rebound. The Wedge on chart is thin, so maybe the breakout will be low. 1.075 is good support so we can use it as key level. Write me if you following my updates: —.

Hi there. Price is forming a continuation pattern to the upside. Watch strong price action at the current price for buy.

Close the candle on the red: BUY Green : take profit

6 Total Trades Tested: 4 Winners & 2 Losers: 6R Total Gain

Please support this idea with LIKE if you find it useful. MONTHLY Overall structure is OLHC. Price is currently trying to find a strong support . There is a bullish divergence on candles and TDI from the 2nd September 2020 to 1 April 2020. Price is strong bearish currently .. we waiting for buyers to dominate and gain full control . Wait on extra.

WE can wait for a break of the descending channel and upward and start buying, Or we wait and see if the waiting wedge on Daily TF can continue falling

EURUSD seems to follow a unique pattern, which could be challenging in the new week. on the chart, is my approach towards forecasting next market movement. my analysis is based on: 1.Elliot wave theory (kind of unorthodox), 2.support & resistance and 3.history repeating itself. Study my wave labeling to see these listed approach. NOTE: This analysis could become.

here is have major sport between 1.06575 to 1.0783 Join Free telegram channel t.me Search in telegram (fxSignalPr0free)

10 Days later price is back at that major structure

Market Commentary: First have an look for the positional trend i shared here previous. if you are a follower of me. and sometimes i will share the counter trend trade also in 15 mins and 1hr. but that is risky ones. so if the trend is bearish or bullish, if i am expecting the correction. book the profit there and wait the correction to end and.

Using Fibo levels to indicate the next entry and take profit for Short or Long

Technicals

Profile

EUR USD (Euro / US Dollar)

The most traded currency pairs in the world are called “the Majors” and the EURUSD leads this group as the most traded pair in the world. This pair represents the world two largest economies and has faced most volatility since the inception of the euro in 1999.

Today’s Trades 03.12.2020 – EURUSD, EURCAD, USDCAD, EURAUD

*Good morning/afternoon everyone!*

So far, it has been a quiet morning in the FX market with the U.S. dollar trading lower against all of the major currency pairs except for the Canadian dollar. U.S. stock futures are pointing to a higher open after Friday’s strong move but investors are reluctant to buy into the rally with a comparatively quieter economic calendar this week. There was zero data released overnight but a possible corruption scandal in Prime Minister Abe’s administration weighs on the yen crosses but its not clear whether USD/JPY has the momentum to extend lower especially with stocks pointing higher. The euro looks heavy and eyeing a move below 1.23. Sterling still has a lot of resistance at 1.39 and the commodity currencies are the best performers with the New Zealand dollar leading the gains.

*The MAIN THEMES I see today are*

-EUR, -GBP, -CAD
+USD, +AUD, +NZD, +JPY
neutral CHF

*Today’s Initial Trades*

Here’s the summary –

1. Bought USDCAD at 1.2829, Stop at 1.2801, Target 1.2857
2. Sell EURUSD at 1.2309, Stop at 1.2337, Target 1.2281
3. Sell EURAUD at 1.5655, Stop at 1.5683, Target 1.5627
4. Sell EURCAD at 1.5788, Stop at 1.5816, Target 1.5760

Close ALL open day trades by 10:20AM NY / 15:20 GMT

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