Only have 3 pairs on my radar for this first week of trading in 2019, EURUSD being the first one.
Seeing price is at the top zone of a range or consolidation area on the daily timeframe, I'm looking to either buy this pair (if we get a break & close above the daily range) or to sell it for a potential continuation of the daily range.
It turns out the selling scenario was the first one to complete and I got involved in the BAT pattern that formed on the H1 as my reason to sell this pair. My stop is at the 1,1520 area while T1 is sitting in the middle area of the daily range, and T2 at the bottom of the range. I will be closing 1/3 of my position on each of these targets while the last third will be kept open for a potential breakout of the rande to the downside.
Seeing price is at the top zone of a range or consolidation area on the daily timeframe, I'm looking to either buy this pair (if we get a break & close above the daily range) or to sell it for a potential continuation of the daily range.
It turns out the selling scenario was the first one to complete and I got involved in the BAT pattern that formed on the H1 as my reason to sell this pair. My stop is at the 1,1520 area while T1 is sitting in the middle area of the daily range, and T2 at the bottom of the range. I will be closing 1/3 of my position on each of these targets while the last third will be kept open for a potential breakout of the rande to the downside.
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