πͺπΊ/πΊπΈ
EUR/USD
Easy Trade
Super simple trend continuation in momentum after breaking out of the range. The left side was very clean with no obstacles until the box below.
4-hour chart:
- The gap that formed over the weekend was closed immediately
- The gap from last weekend is still slightly open if we look at the closing candles
- If we reach 212,304, we can continue to move long and would have a clear path to 213,000 or 213,500
- However, we could also go short at any time, so a certain amount of caution is advised here.
- If we break below 211,000 sustainably, we will most likely end up in the strong daily zone between 210,000 and 210,500.
5m chart:
- We are seeing a normal sell-off from the Asian session.
- I think the previous day's low will be the first point the market will want to approach in the short term.
- Once we reach this point, we need to be cautious at 211,000 and wait to see how the price develops.
- Otherwise, there is also a high chance of a trend reversal today at the London open, but especially this afternoon at the NY open.
@sir_hisham_ That's the point, and anyone who trades without it will sooner or later pay the price. By the way, I document my trading journey as I make a profit, and I am currently also in my first funding challenge.
@WelLdoOnEe That's the fine art of trading, which I haven't quite mastered yet, but I'm not giving up and will document my entire journey until I become profitable.
New day, new analysis
4H chart
- We have corrected the strong sell-off overnight
- If we break 211,822 with a 4H close today, we may see further longs, and it is very likely that we will then completely close the gap from the weekend
- Shorts will only become relevant for me below 211,000
- Range potential is very high today because we have had a lot of volume over the last few days and news from Japan overnight
5m Chart
- We are seeing a slow, step-like build-up of the market in a channel, which often results in a sell-off.
- At 211,822, the candle bodies are getting smaller again and the wicks longer.
- It is extremely important to really pay attention to the larger time frames today before we blindly enter trades, as the market is clearly in an uncertain phase.
Unfortunately, GBP/JPY is not tradable due to the spreads at The5ers. I am losing so many trades because I simply cannot get in. But that's not a big deal; we are currently down 5.5%. If I lose this account, I will switch to another company. My statistics are actually much better.
@joker_szn Being able to read HTF well is one of the most important things, if not the most important thing, for becoming profitable. Setups become much easier to spot. I am documenting my entire journey to becoming profitable here and hope to be a Forex millionaire someday. Keep going!
@Fznation01 It has to be, and I'll keep going until it happens. Today was a very good day for me at the market. Eventually, I'll be consistently profitable, and then nothing will stop me from becoming a Forex millionaire.
@t0mbfx Great results, keep up the good work. Things aren't looking so great for me at the moment, but I'm not giving up. I'm documenting my journey to profitability on my profile, and someday I'll be a Forex millionaireβthat's for sure.
@CRT_femme I don't know that feeling yet. I'm currently still in my first funding challenge, but it's not looking too good at the moment. However, I'm not giving up. I'm documenting my journey on my profile, and one day I'll be a Forex millionaire.
@WisdomStoics That's true, but it's one of the most difficult things to do in this day and age. I notice it in my own trading, but it won't stop me, and eventually I'll become profitable and then a Forex millionaire.