Long EUR/USD Trade (next 23 hours)
Firstly sorry for not updating have been running around like a clown recently, however I have still been updating all Power Level trades on the thread @ forex factory..
I will be looking to buy from a bounce of 1.4105 PL within the next 23 hours. With a target of 1.4300 or higher (to be held for 1-2weeks).
Reasons for my plan:
1) Power Level @ 1.4105
2) We have broken the orange decending trendline since June. So I would now expect a retrace/retest before moving higher. If this happens within 23 hours, it will correspond nicely with the power level.
3) If you look at history, Price has respected this level nicely.
4) Strong psych level.
5) Weekly PA looks bullish to me now...
6) Monthly PA is starting to turn bullish.
7) Excellent Risk:Reward can calculated here, depending on how you position yourself and manage your trade...
Fingers crossed!
1 Comments:
I'm in this trade from Monday, nearly got stopped out by just 1 pip (my stop was 20 from 1.4105 and price dropped to 086). Took profit at 4.4216.
8:03 pm
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