The euro is still maintaining a bearish trend on the hourly chart with a possibility of making an intraday bullish correction.
Traders of euro are therefore advised to place a a pending buys top at 12304 with 20pips target at 12324 and a realistic stop loss at 12260.
Alternatively you can place a buy limit on euro at 12263 tp at 12283/12324 and a sl at 12243(delete this if the buy stop triggered first)
if the signal remains un-triggered at the close of today's trading activities, we delete it.
you can delete the buy limit signal and lets hope to bank quick 20pips on the triggered position at 12304.
ok friends, we banked 20pips earlier today and we will be making more as euro configuration gets clearer.
12407 looks good for the bulls so lets open a trade in that direction and leave through Asian session
(*)euro buy now or set a buy limit at 12327 tp1 12347 tp2 12367 tp3 12400 sl 12270
Trade with care and use excellent money management.
Lets make another quick 20pips on euro as it moves higher to test 12400.
so place a buy limit at 12360 tp 12380 sl 2310
i will advice traders to desist from selling euro for now as we are likely to see a swift bullish u-turn.
Euro still have unfinished business with the bulls to res 12400.
i will be signing off for the day
remember that euro still looks good with the bulls. It may continue its redundance till Whenever its set to move north and it may make a crazy move down to 12311 but still keep your eyes on the bulls until supp 12270 is breached then we sell for good but for now i still see a move higher to test 12400.
A closer look at euro suggests the possibility of a long bearish retest of supp 12296/12271 if supp 12310 is broken so traders can place a pending sell at 12310 for a quick 20pips target.
And if you are buying euro, you may place a stop loss at 12310 and sell if stoped out or you may decide to hedge down to 12271 if 12310 is broken.
Well well well, as we can see, euro is still good with the bulls as i wrote before so traders can conveniently place a buy stop at 12353 with targets at 12373 and a stop loss at 12310. If that entry is tested then we can see euro moving higher today but if 12310 get breached before euro tests 12353 then down euro goes to test 12271.
Trade with care
if you are not in any euro trade at the moment i advice you chill out and wait for res 12353 or supp 12310 to get breached, what is happening now is an epic battle for supremacy between the intraday bulls and bears so lets watch the melodrama and see who dominates the day.
:idea:EURO SELL STOP AT 12305 TP 12285 SL 12350
Follow up signal: euro sell stop at 12295 tp 12275 buy stop/sl 12350
alternatively:euro buy stop at 12363 tp 12383 sl 12310
The fear of instant orders is the beginning of success in fx trading.
Trade with care
We get it, advertisements are annoying!
But it's thanks to our sponsors that access to Trade2Win remains free for all. By viewing our ads you help us pay our bills, so please support the site and disable your AdBlocker.