Australia's largest stock trading and investment forum Australia's #1 stock forum

Hi Rick On this EURJPY.....just want to offer my 2c worth on...

First 81 Last

Share
Profile

Follow
specgoldbug

12,874 Posts.

370

10/02/19

16:17

Post #: 37390715
Share

Originally posted by RickM ↑

Trading Plan for Next Week

Selling EURJPY

Method -

I use the Weekly Candle to form the trading Bias. Here I look at every weekly candle close to see if it break the previous weeks WICK.
In this case it has broken the wick and now has a SELL BIAS.

Then I search for the a setup on the a lower time frame that shows me a area of high liquidity where the price can PULLBACK to open
a Sell Limit order.
In this case I like the 1 hour time frame because I can see accumulation and a breakout in the correct direction.
I now place a order right back within the source of the move because there MAY be orders sitting there that were not closed.
This is also the area where all the price action pro's will be placing their orders as well.
SAFE ORDER WITH JUST A 30 PIP RISK.

An alternate to this method is to replace the Weekly Bias Candle with a Daily Bias Candle which in this case, would be trading this last week.

Expand

Hi Rick On this EURJPY.....just want to offer my 2c worth on timing/trendlines etc....

Personally I think eur will tank however I think also jpy will go weak short term and that make things tricky- plus chart is at key level to keep screwing traders who are at both directions with volatility...

Weekly Daily and H4 here......H4 is the key here imo
1 Upvote

Reply

Top Stories

History-making uranium sample grades and an imminent drill run. Infini Resources is poised to transform in 2025

WC8

Pan Asia rebranding to 'clear confusion' after bagging $35M for Chile projects

Optimising your equity market strategy: Tips for investors

MIN

MinRes's Ellison knows he screwed up – for that reason, hunt for new Chair to be sped up

ACW

This biotech stock raised $11M in a risk-off environment. Its Alzheimer's drug could change the game

There are more pages in this discussion • 292 more messages in this thread...

First 81 Last

SPONSORED BY