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Wednesday, March 31, 2021

EURUSD - LONG - Awaiting 4HR CLOSE #LONG #forex #long #babypips

EURUSD - LONG - Awaiting 4HR CLOSE #LONG #forex #long #babypips

EUR/USD OANDA:EURUSD

Hi Guys,

I'm playing around with some new presentation styles so let me know what you think.

Onto the TA:

We've currently at resistance turned support at S1. As you can see it's been used historically as resistance outlined by the red circle, and currently as support, green circle.

The Top Level Resistance is above, labelled R1, and if you pan left, you can see it's been used historically as support and resistance .

Line a represents our current downward trend line , this would need to break or we'll need to have sideways movement past the trendline a, before we could enter a trade LONG.

I'm currently awaiting the closure of the 4 hour before considering the trade.

If the following happens, i will no longer place this trade:

  • Line a is still in play, i.e. price action remains beneath it
  • S1 breaks, and the price moves significantly below it.

Thank you for taking the time to read this,

For_The_Many


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