EURUSD - Long Trade Idea
Updated
Hello folks,
I am generally bearish on EURUSD at the moment, and I am still waiting for lower prices, but we could see more bullish momentum first. The logic behind this is of course to lure more bullish traders into the market, but I also do not see any significantly high impact news yet.
However, if you see my other analysis, I am looking for a monthly close below the Monthly iFVG in order to be used as resistance, as mentioned in my previous analysis. That being said, take this trade idea as less than a A+ setup. Most of the probability of this trade lies price being at a ranged Discount, and in the efficacy of my R2F Gap coupled with a possible London Judas Swing.
Safe trading!
- R2F
I am generally bearish on EURUSD at the moment, and I am still waiting for lower prices, but we could see more bullish momentum first. The logic behind this is of course to lure more bullish traders into the market, but I also do not see any significantly high impact news yet.
However, if you see my other analysis, I am looking for a monthly close below the Monthly iFVG in order to be used as resistance, as mentioned in my previous analysis. That being said, take this trade idea as less than a A+ setup. Most of the probability of this trade lies price being at a ranged Discount, and in the efficacy of my R2F Gap coupled with a possible London Judas Swing.
Safe trading!
- R2F
Note
The stoploss and entry indicated is for illustration purposes only. I usually wait for a confirmation to take place, and usually after 3am NY time for a London trade.Note
I also have a long POI on the DXY chart, which would relatively inverse of the EU chart. DXY got there first, so if price blasts through the EU chart, then we could have reached a mid-term top and ready for lower prices. This goes back to me looking weather or not the Monthly candle closes below the potential Monthly iFVG on EU.Note
Looks like we are about to break the first swing high. If the monthly chart were to close lower than the aforementioned Monthly BISI turned iFVG, it would likely be a relatively violent displacement lower. I say this because we are nearing the end of the month and price is still displacing upwards.
Anyway, after this long, I would like to wait for a short confirmation, conventionally on the 4h/Daily timeframe, but with the anticipation of my Monthly iFVG idea then I may not have time for that as the monthly candle is nearing its close. In the case of price reaching my POI at the time of red folder news, especially if price engineered and manipulated liquidity prior news near the POI, then I try a low risk entry near the top and bet on my bias. But yeah, that is IF those things line up.
Note
Btw, partials taken at the swing high and stoploss set to breakeven, should we move lower.Trade closed manually
Price has hit its peak, unless there is one more manipulative move. Either way, I'm still bearish.
R2F
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Telegram: @TradinGGrace
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