Sive Morten
Special Consultant to the FPA
- Messages
- 18,699
Morning guys,
So most of our trading setups were completed this week, today is Friday and we gradually are coming to the end of recent setup as well.
On daily chart we do not have something new, EUR is challenging 1.1284 and MPP resistance. We have some nearstanding targets that could be reached today:
First is XOP and Agreement area around 1.1315 on 4H chart. As market already has hit OP and reaction way was looking positive, we've made suggestion that it could be good background for short-term long trade:
That's the reason why we've decided to go long with reverse H&S pattern on 1H chart. This setup has been done perfectly, market turned up pips to pips in our area:
So, if you were with us, now you could either grap profit or keep going but move stops to breakeven. Now we're mostly watching for OP target, around 1.1308 just because it stands close to 4H XOP and Fib level. 1H XOP stands at 1.1340+ area, which is a bit extended destination.
Currently we do not see any other setups here by far. Thus, let's finish our H&S journey and see what will happen next week.
So most of our trading setups were completed this week, today is Friday and we gradually are coming to the end of recent setup as well.
On daily chart we do not have something new, EUR is challenging 1.1284 and MPP resistance. We have some nearstanding targets that could be reached today:
First is XOP and Agreement area around 1.1315 on 4H chart. As market already has hit OP and reaction way was looking positive, we've made suggestion that it could be good background for short-term long trade:
That's the reason why we've decided to go long with reverse H&S pattern on 1H chart. This setup has been done perfectly, market turned up pips to pips in our area:
So, if you were with us, now you could either grap profit or keep going but move stops to breakeven. Now we're mostly watching for OP target, around 1.1308 just because it stands close to 4H XOP and Fib level. 1H XOP stands at 1.1340+ area, which is a bit extended destination.
Currently we do not see any other setups here by far. Thus, let's finish our H&S journey and see what will happen next week.