Possible EU set up to upside

23 thg 7, 2019

EU was in range for a few days and finally brokes to the downside. We know that when the range is broken, TP is the duplication of the range. In this particular case, the duplication correlates exactly with 1.11200 which is MAJOR RESISTANCE level.

If the price reaches around 1.11200 level, I will look for candlestick signal to BUY!!

25 thg 7, 2019

Ghi chú

Alright, the interest zone is reached, now scale down to lower time frames to see some kind of rejection of this level.

If I see engulfing/ multiple wicks/candlestick reversal formations in this zone, I'll buy, expecting the price to pullback around 70 pips to the upside with tight SL

27 thg 7, 2019

Ghi chú

Okay, we have some price action, reacting in our zone of interest. Price respected the level once, now testing the zone for second time.
This time we have multiple candles that show us that we may have some pullback to 1,12000.
On 30 min chart we see muultiple wicks rejecting 1,11200
after that we see "rising three methods"(In the circle) that it is formed above a whole number, which predicts the continuation of the current upside move.
Maybe we can enter now with 20pip SL, or can put pending order little bit lower than the current price for smaller SL, but who knows if the price will go a bit lower