#03 – Euro after Election

Screen Shot 2017-05-13 at 12.17.13 pm.jpg

Decided to hedge on Euro using the Major Pair (EURUSD)

Monthly chart indicates an overall bearish trend, where market is currently trading in key levels. Price has been trading in this range since 2015, trying to find a stronger supply of sellers.

Screen Shot 2017-05-13 at 12.25.19 pm.jpg

Spotted a trend reversal on the Weekly chart, as market broke of from the bearish channel with a bullish price action build up. Market making higher highs and higher lows.

Screen Shot 2017-05-13 at 12.30.07 pm.jpg

Spotted strong resistance level on Daily Chart created in early April and have decided that my buying level should be around that pricing levels.

Screen Shot 2017-05-13 at 12.30.57 pm

Spotted a nice price support on 4 Hour chart and decided to hedge it on a smaller time frame to reduce my risk amount.

Screen Shot 2017-05-13 at 12.32.46 pm

As market rejects the price level with a doji candle stick (1 Hour Chart), I’ve place an entry with a 1:5.4 RR ratio. I’m currently still in this trade. I would not be fixated on my take profit as I’ll would be ready for a potential reversal (false breakout).

Hope you caught this move too 🙂

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s