EUR/USD Long Set Up

FX:EURUSD   欧元/美元
In honest this isn't a pair with much clarity as price is drifting between upper and lower consolidation structures. In cases like this it's best to wait for a correction at a major level/structure or a break-out of a major resistance/structure. The green box is where I'd want to go long on a correction and the yellow box is where I'd want to go long on a break-out.

The downside is always a possibility however I am not looking short unless the 1.16000 level is broken given the fact D1 bias is strongly in favour of the uptrend.

My Trading Rules - How I identify trades, define my edge and manage the commercials:

First I define my 'edge' which simply means a set of circumstances that indicate one eventuality is greater than another.

My Edge: (How I decide on if I should enter)

1) Is defined as trading in the direction of the overriding daily trend ( Bullish , Bearish or Neutral)
2) In a trending marketing I look for entries at corrective price structure
3) In a neutral market I trade the upper and lower most extremes of the support and resistance levels
4) In the case of a breakout I seek an entry in the direction of the break

Next I follow 4 rules for undertaking analysis: (How I spot opportunities)

1) Analysis must clearly define a 'bias' and the parameters for invalidating 'bias'
2) Analysis must clearly provide a trade set-up with entry, take profit and stop loss
3) Analysis must debunk a trade in the opposite direction
4) Analysis must factor in sentiment and fundamental factors

So now I know my edge and how to spot opportunities the next is how to manage trades: (How I decide on the commercials of a trade)

1) Take profit should be set at a key fibonacci and/or price structure level
2) Stop loss should be no more than 3% per trade (sum of total positions)
3) Entry should feature 2 or more positions
4) Entry at market is forbidden to mitigate impulse trading (I only trade via orders)
ZH 简体中文
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 繁體中文
首页 股票筛选器 外汇信号搜索器 加密货币信号搜索器 财经日历 如何运作 图表功能 网站规则 版主 网站 & 经纪商解决方案 插件 图表库 功能请求 博客 & 新闻 常见问题 帮助 & 维基 Twitter
个人资料 个人资料设置 账号和账单 我的支持标签 联系支持 已发表观点 粉丝 正在关注 私人消息 聊天 退出