Going short to the next level
Looking to get entry from the midline of the consolidation at around 1.0618, hedge above at 1.0641.
Next level of interest is 1.0461 with potential issue at 1.048 with another level from way back.
Max risk is 25 pips in this setup, but will watch things play out.
1.062 lines up in a level that's about in line with a fib level of retrace, and lining up with the layout on the oanda charts from last week. Not showing that in this chart because it's too much to explain.
Next level of interest is 1.0461 with potential issue at 1.048 with another level from way back.
Max risk is 25 pips in this setup, but will watch things play out.
1.062 lines up in a level that's about in line with a fib level of retrace, and lining up with the layout on the oanda charts from last week. Not showing that in this chart because it's too much to explain.
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This could take a bit to get entry, but not counter trading to it, because we have a level in-between the current bottom and entry to make the risk not entirely worth it. May be worth a scalp, but there's a lot of attention looking lower whoce been waiting for 1.03 for bit, so see as things line up. It could launch down off the 1.058 levelملاحظة
I imagine a lot of people were holding short through the last rip up and probably dumping now, plus buyers just took some heavy losses, so that's part of why I believe we'll stay around the bottom a short bit. We're also noticing the 1.058 level. Holding the entry position and hedge may be raised a few pips just Incase it gets a snap entryملاحظة
1.06540 hedge orderملاحظة
If we stall here and open flat, we may be doing something else (maybe leaving from 1.058, if enough people didn't release what they held from before on their range from last week. Volume and volatility should be slowing soonملاحظة
One other thought could be a lot of potential revenge buying, no changes going into the swap, but I'm suspicious right now about a potential range, so no extra entries, and hedge plan will involve using the 1.068 potentially, or just a hold til the buy hedge breaks even and finally drops, but I'm believing we're going into a downtrend the next time we leave the range.ملاحظة
Adjusting the sell order to 1.0623, leaving the buy hedge protection in place at 1.06545, take profit at 1.0463 still, and let this one ride. If we range out the week, it should be workable from the 1.068 or so level if we reach it, or if it doesn't reach, can let it break even, reset a bit higher then bring back down after price follows back through to the downside. Risk in this order at about 27 pips, will look to keep the entry count low while in the range. If the order misses, and we go on down, will look for retest in a new idea for short. Still biased short, but not strong yet about when we can look to leave the range, so cautious about buys in the near future.
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Sell limit reached, trading activeملاحظة
Trading has been active for a couple of hours, just waking up. Leaving the order as is for now, may see another small rally from this pointملاحظة
Waiting to reach breakout around 1.051 before any further adjustments get made. Fairly comfortable at the moment, as entry was taken on a hidden level, we have a significant area of interest right above that, plus a minor area of interest, and the hedge is in a level above those, so lots of protection on the position at the momentملاحظة
*Not really hidden, just not clear enough in the moment, which was a perfect place for seller to hide and ambush the revenge buyers because they didn't see itملاحظة
Most recent news (though I don't care for news, price will respect boundaries, news just accelerates everything) aligns with the trade and the zone structure above price is very protective, I'm thinking it's only a matter of time now...ملاحظة
The panic, fear, anger, confusion, it's all over the 5 minute chart....ملاحظة
Both currencies have lost a lot of strength, it looks like there is starting to be some acceptance of the inevitable now, but with both dropping in power, it could be a sluggish moveملاحظة
Still on the same plan as before, only focus now is just manage for the fluctuations that are unfavorable between the two currency's strength, one may rally as the other falls and cause small interest in an unfavorable way for the trade.ملاحظة
Examples of interest: indicator traders, algorithm traders, EA bots, and grid strategy traders (1.06 is a grid strategy trade level agreed upon in that crowd, see reference attached idea)ملاحظة
Updating the target to 1.0532 for the sake of my patience, then will look for a retest of the bottom of the range to get the rest of the 1.046 target in a new tradeملاحظة
Strong idea to believe we may stay around the bottom of our current overall range to the end of the week, not looking like it's ready to launch down yetملاحظة
1.0542* line up with the grid trader point...تم إغلاق الصفقة يدويًا
Trading closed with 1:1, 29 pips profit. End of the day coming and things moving very slow, running out of patience and factors don't look to be sizing up for much action the rest of the week.#NoDonationFriday
In the last two weeks of trading, I've brought my account back from the dead ($22) to almost back to the initial balance of the most recent deposit, ($91.17 currently), so I'm very satisfied with performance. My trading system has proven very reliable, only losing 6.7 pips over the last two weeks, I'm taking time to reflect and will come back to begin a new next week, let the argument play out and keep my profits
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