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  1. #1
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    Bulls are accumulating on EUR/USD!

    Hello Forum members! What’s going on? Well, here I am sharing my personal overview on EUR/USD trading pair! On daily chart you may notice a Head and Shoulders pattern (around 1.0588 level). Basically I had opened a buy trade on 1.06173 level and I have already closed half trading lot by my 1st TP (1.08487 level), now I am waiting for my 2nd TP (around 1.12622 level)! Actually, last 9 days were too much confusing, but I believe market momentum, that’s way till now I am running this trade; of course I’m confident about my 2nd TP! I see, a strong Bullish candle of Thursday covered last 8 days, that’s the power of buyers here; So, what’s your opinion!
    EURUSD.jpg

  2. #2
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    Quote Originally Posted by Zachary Davis View Post
    Hello Forum members! What’s going on? Well, here I am sharing my personal overview on EUR/USD trading pair! On daily chart you may notice a Head and Shoulders pattern (around 1.0588 level). Basically I had opened a buy trade on 1.06173 level and I have already closed half trading lot by my 1st TP (1.08487 level), now I am waiting for my 2nd TP (around 1.12622 level)! Actually, last 9 days were too much confusing, but I believe market momentum, that’s way till now I am running this trade; of course I’m confident about my 2nd TP! I see, a strong Bullish candle of Thursday covered last 8 days, that’s the power of buyers here; So, what’s your opinion!
    EURUSD.jpg
    Thank you very much Sir for your analysis! But, may I know the reason of your 2nd TP position? Actually, I am a new Forex trader and till now learning! Thanks in advance!

  3. #3
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    Quote Originally Posted by Jillur Rahman View Post
    Thank you very much Sir for your analysis! But, may I know the reason of your 2nd TP position? Actually, I am a new Forex trader and till now learning! Thanks in advance!
    I’m glad you liked it! Now, according to your question, actually on daily chart you may notice a strong swing point (1.12622 level) on Nov-16! So, I seem after reaching that same level market can reverse for 100-150 pips; that’s way I set my 2nd TP for 1.12622 level!

  4. #4
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    1st of all thank you for your contribution, but I seem now it’s not clear enough! Right now we are in a range for 900-1000 pips (1.0588-1.1464)! If you observe intraday time frame then you may see so many indecision candles, so I seem, right now there is no trendy status, it’s a rangy market! If market breaks 1.1262 level quite comfortably, only then I’ll go for buy!

  5. #5
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    Quote Originally Posted by Andre Silva View Post
    1st of all thank you for your contribution, but I seem now it’s not clear enough! Right now we are in a range for 900-1000 pips (1.0588-1.1464)! If you observe intraday time frame then you may see so many indecision candles, so I seem, right now there is no trendy status, it’s a rangy market! If market breaks 1.1262 level quite comfortably, only then I’ll go for buy!
    I understood, what do you mean here! But, I count intraday context (H4 and H1 mainly)! Yes, I see few indecision patterns on lower time frames; but I believe on higher time frame’s context like H1 and H4! Again, there is nothing like guarantee in Forex, so I use SL! Happy trading!

  6. #6
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    Unfortunately, I missed buy trading opportunity on Thursday so, now I am trying to buy here at low price! Actually, I trade according my personal trading system! So, if I get trading entry point below 50 pips then I should follow this parameter! Let’s see!

  7. ARIONFORXtarder
 

 

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