I do traded this B&B, thank you.And ? As usual BOOM !Who traded with me ? Probably nobody...
See below 1hr chart. Week DP on sell at where we longed the market. Then trend turns up and Trend push.
View attachment 49184
Be careful on 4hr chart now we have possible B&B sell setup.(Not good thrust but still can play out well.) So you can move stop to breakeven and take partial profit at major F3 resistance. Then if you like you can re-enter on the retracement to target major F5 resistance.
View attachment 49185
Regards
Forex FOREX PRO WEEKLY, December 09 - 13, 2019
- Thread starter Sive Morten
- Start date
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RogerTC
Special Consultant to the FPA
- Messages
- 352
And ? As usual BOOM !
See below 1hr chart. Week DP on sell at where we longed the market. Then trend turns up and Trend push.
View attachment 49184
Be careful on 4hr chart now we have possible B&B sell setup.(Not good thrust but still can play out well.) So you can move stop to breakeven and take partial profit at major F3 resistance. Then if you like you can re-enter on the retracement to target major F5 resistance.
View attachment 49185
Regards
UPDATE => NZD/CHF
Market reached F5 and B&B played out. All positions closed with profit.
Sive Morten
Special Consultant to the FPA
- Messages
- 18,654
Morning guys,
We're not occasionally said yesterday that EUR forms patterns in both directions and any trader could succeed - just do not marry any position, book result fast. And indeed as bearish as bullish patterns have reached their targets. Still, this type of trading is difficult and doesn't fit to everybody. Now we have different situation. EUR has confirmed our suggestion and shown upside action due dovish Fed statement - rates should stay stable through 2020.
On daily chart today we keep an eye on 1.1165-1.12 target area. Now we're enterting, guys, in new trading range around 1.12 area:
On 4H chart we have few minor targets that also point on the same level:
On 1H chart our setup approximately suggests possible long entry around 1.1116 support area. with stops below 1.11 K-support area. Target is daily 1.1165. BTW take a look that our bearish "222" also was completed and reached it minimal target - 3/8 retracement was done right before rally has started...
Major risk factors - UK voting results and Sino tariffs news that should be released this week. ECB hardly brings any surprises today.
We're not occasionally said yesterday that EUR forms patterns in both directions and any trader could succeed - just do not marry any position, book result fast. And indeed as bearish as bullish patterns have reached their targets. Still, this type of trading is difficult and doesn't fit to everybody. Now we have different situation. EUR has confirmed our suggestion and shown upside action due dovish Fed statement - rates should stay stable through 2020.
On daily chart today we keep an eye on 1.1165-1.12 target area. Now we're enterting, guys, in new trading range around 1.12 area:
On 4H chart we have few minor targets that also point on the same level:
On 1H chart our setup approximately suggests possible long entry around 1.1116 support area. with stops below 1.11 K-support area. Target is daily 1.1165. BTW take a look that our bearish "222" also was completed and reached it minimal target - 3/8 retracement was done right before rally has started...
Major risk factors - UK voting results and Sino tariffs news that should be released this week. ECB hardly brings any surprises today.
RogerTC
Special Consultant to the FPA
- Messages
- 352
Lets make some more profits !!
Possible B&B sell opportunity in daily AUD/NZD. We can place our entries just below 1.0493 and stop above the confluence around 1.0550. This is a parachute type stop. If the market doesnt respect to our entry level at F3 resistance we will not wait until it hits our stop.
Daily,
4HR,
Regards,
Possible B&B sell opportunity in daily AUD/NZD. We can place our entries just below 1.0493 and stop above the confluence around 1.0550. This is a parachute type stop. If the market doesnt respect to our entry level at F3 resistance we will not wait until it hits our stop.
Daily,
4HR,
Regards,
RogerTC
Special Consultant to the FPA
- Messages
- 352
And ? As usual BOOM !
See below 1hr chart. Week DP on sell at where we longed the market. Then trend turns up and Trend push.
View attachment 49184
Be careful on 4hr chart now we have possible B&B sell setup.(Not good thrust but still can play out well.) So you can move stop to breakeven and take partial profit at major F3 resistance. Then if you like you can re-enter on the retracement to target major F5 resistance.
View attachment 49185
Regards
This setup is in play but I missed it with a few pips.
Sive Morten
Special Consultant to the FPA
- Messages
- 18,654
Morning guys,
Yesterday was important session for FX market, and mostly for EUR and GBP. UK election results are very important for long-term perspective and it seems that next year we will come in absolutely different environment.
Meantime, in shorter-term we should be ready for "close on fact" type of action of those who was buying "on rumors". Event has happened BJ won and now it is time to book result of this bet. Thus, as on EUR as on GBP some technical pullback should happen.
On daily EUR market stands at 1.12 resistance. This is actually weekly K-level, daily COP and near overbought condition:
On 4H chart we've got OP execution as well:
On 1H chart we could consider few levels that market could reach today. It seems that at least K-area should be reached with high probability
Yesterday was important session for FX market, and mostly for EUR and GBP. UK election results are very important for long-term perspective and it seems that next year we will come in absolutely different environment.
Meantime, in shorter-term we should be ready for "close on fact" type of action of those who was buying "on rumors". Event has happened BJ won and now it is time to book result of this bet. Thus, as on EUR as on GBP some technical pullback should happen.
On daily EUR market stands at 1.12 resistance. This is actually weekly K-level, daily COP and near overbought condition:
On 4H chart we've got OP execution as well:
On 1H chart we could consider few levels that market could reach today. It seems that at least K-area should be reached with high probability
And ? As usual BOOM !
See below 1hr chart. Week DP on sell at where we longed the market. Then trend turns up and Trend push.
View attachment 49184
Be careful on 4hr chart now we have possible B&B sell setup.(Not good thrust but still can play out well.) So you can move stop to breakeven and take partial profit at major F3 resistance. Then if you like you can re-enter on the retracement to target major F5 resistance.
View attachment 49185
Regards
Hi, nice trades. Personally I prefer to stick to major pairs. Looks like your strategy is working out nice for you, glad to see that
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