4 hour has been rejecting it for 4 candles already; We are sitting in a small daily demand zone (still a demand zone); Intraday 1 hour starting to show PA for a retracement; We couldn't take yesterday's low so far; Yes, Overall trend is BEARISH, but we are trading a retracement, counter-trend or whatever you liek to call it.
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I've caught some scalps, now the runners are risk-free. Let's see how it plays out...
交易结束：到达止损
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Shit. We lost this one. Minus 13 pips.
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See the importance of a good Risk Management? This month we only lost a couple, with a maximum 15 pips SL. The winners? All +70 to 150 pips. This is an average of 8:1 RR. Money is made this way.
Nice idea on EURUSD and there may be potential gains as you have identified by going long. For our set up, we have identified the key resistance and support levels. Currently, price is approaching our first support at 145.73. It is horizontal swing low support, 61.8% Fibonacci extension and a 38.2% Fibonacci retracement. Stochastic is approaching resistance at 5.90% and we might see a corresponding bounce in price. If a corresponding bounce does occur, we may want to take a look at the 147.62 resistance level which is in between your second and third take-profit level of 147.26 and 147.74. It is a horizontal swing high resistance, 100% Fibonacci extension and a 50% Fibonacci retracement.
Please take a look at our idea and share with us what you think.
Please take a look at our idea and share with us what you think.