I am mid-term EURUSD Bearish bias due to the monetary policy divergence (too oversimplistic, basically just pick a direction!). On the left-hand side chart, that is H4 Timeframe. If price reaches the weekly pivot and gives me Bearish Engulfing Candle, then I will short EURUSD. Target according to the arrow (within the Weekly Projection Low) - 170 pips.
For today, (refer to the right-hand side chart) I want to see if I could get into a Long trade. Price barely tested 1.16100. I am looking for a retracement and see if the market could give me a bullish engulfing candle at one of these areas I've marked. If there is, I will LONG EURUSD and target the Weekly Pivot (within the daily projection high).
If you like my trading plan write-up give me a follow, if you agree with this plan click Agree button. If you do not, post a comment down and we can discuss.
For today, (refer to the right-hand side chart) I want to see if I could get into a Long trade. Price barely tested 1.16100. I am looking for a retracement and see if the market could give me a bullish engulfing candle at one of these areas I've marked. If there is, I will LONG EURUSD and target the Weekly Pivot (within the daily projection high).
If you like my trading plan write-up give me a follow, if you agree with this plan click Agree button. If you do not, post a comment down and we can discuss.
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I will add 1.16250 price as potential Resistance as addition to the weekly pivot.
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Price reaches the weekly pivot as anticipated
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Now I am waiting if this plan be invalidated , as of now I want to short EURUSD if there will be Bearish Engulfing Candle
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Different perspective of the plan if Bullish continues
Different perspective of the plan if Bullish continues