Forex EUR/USD Daily Video, October 05, 2021

Brett Reynolds

Sergeant Major
Messages
888
Last Friday 1st October we had a 'Bullish Harami-Inside Bar' on the Daily chart in overbought area. I use Stochastic on Daily and Weekly. When i see these Harami's i start to look on 4hr chart and use 3x3 MA to check for Double Repo's and also start to check 1hr charts for patterns. We can see that we already had a close above the 3x3 on 4hr chart and we have what looks like inverse H&S on 1 hr chart. I placed a trade yesterday at 1.1610 that was stopped out @ Breakeven today. I will place a 'Stop-Buy' order at 1.1620 today. If this order is hit..then that could mean we will get 2nd close 'Above' 3x3 MA on 4hr chart..and my 1st target will be 1.1680 area! The Stop can be either just below the right shoulder at 1.1580 or more conservative below 1.1560.? :)
 

Sive Morten

Special Consultant to the FPA
Messages
15,289
Last Friday 1st October we had a 'Bullish Harami-Inside Bar' on the Daily chart in overbought area. I use Stochastic on Daily and Weekly. When i see these Harami's i start to look on 4hr chart and use 3x3 MA to check for Double Repo's and also start to check 1hr charts for patterns. We can see that we already had a close above the 3x3 on 4hr chart and we have what looks like inverse H&S on 1 hr chart. I placed a trade yesterday at 1.1610 that was stopped out @ Breakeven today. I will place a 'Stop-Buy' order at 1.1620 today. If this order is hit..then that could mean we will get 2nd close 'Above' 3x3 MA on 4hr chart..and my 1st target will be 1.1680 area! The Stop can be either just below the right shoulder at 1.1580 or more conservative below 1.1560.? :)
Well, I'm a bit worry that US yields are rising again now... And EUR has broken all support levels, erasing recent 4H grabber as well. So, next stop could be around 1.1512 target...
 

Brett Reynolds

Sergeant Major
Messages
888
My Stop Buy Order was not triggered yesterday as Price only reached 1.1612 area by my chart.
Se-la-vie! I will wait for next opportunity..on Euro/$..probably next week now..!? ;)
 
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