EURUSD - Chart - Trade Plan - Daily Outlook - 3-20-2018
EU just broke the minor support at 2257 and closed they day lower. So now I will focus on the next support at 2154, if it breaks this level, there is still room for the next bigger fib support at 2055 imo.
For the upside, the minor resistance would be at 2357, breaks there, EU will rally up to many resistance levels at 2412, 2445 and the bigger one at 2555.
Last week, I was long at 2266, very good entry level against the 2269 support but ended up too early caused the week ended at the same with my entry.
This week, I got 2 short pending orders at 2337 and 2354, first one triggered but I decided to get out with -14 pips loss at 2351 caused the 1h/4h closed above 2337(my minor resistance). I thought EU will go higher after 2337 broken but EU gave strong drop down this morning has changed my mind that it is still favor the downside, so I canceled my long pending at 2295 "I have made a great decision :)". I booked profit for my short(2355) at 2309 too early for +46 pips.
Now, my plan will be short this pairs, my pending short will be near 23ish, just below or right above this level with target near 2154.
WARNING: I could hold up to 3-6 positions(200-400 pips DD) for scalping , 4-10 positions(400-600 pips DD) for medium and long term trade AND ALL COMBINED EQUAL OR LESS THAN 3% of my account.
So far since I moved to Steamit I have the record for my live trade:
Steamit - EURUSD - 2018 : [(25+53)+(14)+(52)+(-2)+(-42)+(-20)+(23+14)+(-6)+(14)+(72)+(82)+(10)+(26)+(-14)+(46] = +347 pips.
Thank you for your support, upvote and retreem!
Good luck with your trades !
This is my personal view, hope this can help your trading idea.
UPDATE 1
The chart-trade plan-trend will change if EU breaks the minor resistance at 2358.
I should hold my short for longer... pending short around 230ish.
Back to bed, pending short just above 23ish!
See you guys later, Alarms on! :)
Some resistance at 2286/2299
I think 2318/43 would be good entry.
Spike up or down, dont know. So prepare for both situations with SL in hand.
For the upside, closes above 2358, BEARS will have problem. Close below 2239, Bulls will be done.
The trend is going down, no minor support until 2154 for me. Time will tell...
It needs to closes above 2297 for another chance to rally higher before FOMC.
I wont jump in long side except it breaks 2412, att, I will catch long at the pull back.
Short is still in my plan for now.
It does not want to close above 2297, 2298 is small resistance.
Bias is still Bear, waiting for FOMC then.
Remember that, above 2287, it is a bullish week, below that level is bearish, it will be creating either bearish or bullish weekly candle from now until the week ends.
UPDATE 2
I just shorted at 2313, will stop out if it makes any new high.
Watching 1h closes right now, If it stays below 2161, bingo, otherwise, bullish and I will get out!
Very possible to close higher too so prepare for both!
SL in placed!
2290 atm
Out -3 pips!
Watching 1h closes, next one at 2358
I might jump in back again later!
2315 atm
I would not go long atm. EU needs to improve me for the breaks at 2358, 2412 and 2445 first.
2302 atm
I will cry if it drops... SL 3 pips might not be enough for this roughly event.
But waiting is not losing anything.
2301 atm
I am happy to eat 3 pips loss rather then staying in 30 pips + DD. 12 mins more to end 1h candle.
Bbl
It looks bullish atm, so out at -3 pips was not a bad choice.
2317 now.
I will short later, might be just above 2358.
I am waiting to see where 4h closes too.
bbl
UPDATE 3
1h, 4h closed bullish. The bullish does not look that strong. Many R up there at 2358, 2412, 2445. Will short soon!
If it breaks 2358, I might go for long.
Short right here at 2362 with tight stop loss.
Address 100 pips today already!
It needs to closes above 2358 to prove me to go long later.
I am watching out 1h/4h close above or below 2358.
I might get out anytime soon. The uptrend looks strong atm.
I placed a pending short at 2358. stop 20 pips.
Strong Resistance at 2358, LH and LL pattern right now, good sign for bears as long as it stays below 2358.
Thank you!