EUR/AUD for long (hourly tf)
Hello traders, here we have an inverted head and shoulders pattern on the hourly eur/aud chart. We also have the 1st higher high, so it's time to look for an opportunity for long positions. My preferred scenario is for the price to fall into the harmonic area (with the left shoulder) and if that happens, I'm in. Of course, if you see bleeding in price and the downward movement (which should be a retracement) accelerates down, then wait for other confirmations. But for now we have a lot - daily confirmation, Macd bullish divergence (1 hour) and 1st higher high.
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HOW TO SET STOP LOSS | 3 STRATEGIES EXPLAINED 📚
Hey traders,
In this post, we will discuss 3 classic trading strategies and stop placement rules.
1️⃣The first trading strategy is a trend line strategy.
The technique implies buying/selling the touch of strong trend lines, expecting a strong bullish/bearish reaction from that.
If you are buying a trend line, you should identify the previous low.
Your stop loss should lie strictly below that.
If you are selling a trend line, you should identify the previous high.
Your stop loss should lie strictly above that.
2️⃣The second trading strategy is a breakout trading strategy.
The technique implies buying/selling the breakout of a structure,
expecting a further bullish/bearish continuation.
If you are buying a breakout of a resistance, you should identify the previous low. Your stop loss should lie strictly below that.
If you are selling a breakout of a support, you should identify the previous high. Your stop loss should lie strictly above that.
3️⃣The third trading strategy is a range trading strategy.
The technique implies buying/selling the boundaries of horizontal ranges, expecting bullish/bearish reaction from them.
If you are buying the support of the range, your stop loss should strictly lie below the lowest point of support.
If you are selling the resistance of the range, your stop loss should strictly lie above the highest point of resistance.
As you can see, these stop placement techniques are very simple. Following them, you will avoid a lot of stop hunts and manipulations.
How do you set stop loss?
❤️If you have any questions, please, ask me in the comment section.
Please, support my work with like, thank you!❤️
Selling pressure for cable as dollar catches bidGBPUSD H4
Monster rejection H4 candle forming at the moment, around 10 minutes until this H4 candle closes. To see this candle close red would be amazing.
Added another entry point short from 1.21, we traded this really well last week down from 1.22 region, these whole number on cable are playing out incredible, and have done for months.
EUR/USD for long We have some obvious bullish signs here. First of all, if we look at the daily chart, we can see that we have a bullish flag pattern that suggests a move to the upside. So, to trade with a high probability of success, it is better to wait for a breakout on a daily basis (to avoid false intraday signals). That's what we got. Now the question is where to enter the position, if you haven't already. Well, I would look for any nearest retracement. Last week brought some fundamental changes as the Fed is more likely to slow rate hikes to delay the INEVITABLE RECESSION (which is technically already here). But OK. This can be some relief in eur (although the situation in the EU is even worse, but here we are LOL). Of course, if you entered a long position, don't be greedy and use some achievable targets, such as the AB CD 1.0 target from the daily chart. Keep in mind that anything can happen, and we could see bears enter the market at any moment, but that's why we use stop losses.
GBPUSD H1 - Long Signal 1.26GBPUSD H1
This is what the next entry would look like if we were to trade from that 1.26 whole number, we have seen a pullback to 1.26200 which ties in with previous R/S. But that whole number is typically the play we want to catch.
It makes more sense based on fibs, whole number, S/R and demand.
USDJPY DAILY: HIT TARGET 134.06, ABOVE 125.10, 138.45 IS NEXTAs expected, USDJPY higher above 131.34 and hit 134.06 Target.
As I said at previous idea, "While Above 121.27, USDJPY Still Bullish To Retest 131.34. Break Above 131.34, Bullish Countinue To Target 134.06."
Now, While Above 125.10, USDJPY Still Bullish To Target 138.45.
But, Break Below 125.10, Open The Way To Retest 121.27.
Break Below 121.27, Cancel Bullish Outlook.
Break Below 121.27, Open The Way To Retest 116.33-112.07 Area.