Thank you very much.
here is chart for EURAUD from morning.
here is chart for EURAUD from morning.
IvicaJ Forex ideas
- Thread starter xpertstocktrader
- Start date
We took EURUSD around 1.3325 and it is no loss trade. But I like to show what main reason was. It is on weekly time frame chart. EURUSD forming 3D CCI setup and that was reason why I was look on smaller time frames for better risk/reward trade. On the weekly time frame is weekly trading plan and at this point is bigger stop, but that is also opportunity for long trade. We can see that is important to break 10sma because that is trend resistance on weekly chart and for bounce it is key resistance area and need to be broken. On CCI trade usually first target is 20sma, but like to note that is important to see pace and volume what will tell us more about future action. Since I think that EURUSD will go more up (at this point chart suggest that) I will follow smaller time frames for more long setups.
For me "whole picture" is most important, same as signals on bigger time frames. To find better risk/reward trading plan I will go to 15 min. rarely to 5 min and never to 1 min time frame. But I will do that only if bigger time frame will support that
Well this is just my way. I don't mean that is not possible to trade with 1min time frame. I'm just not good with that, that's all. I'm not great scalper
. Because of that I'm doing on that way
good luck
It is valid if EURUSD will sta under 10sma 60 min
Might be of interest that the last highest red candle in your channel is a green hammer candle with a tiny wick on the top on all my charts. I have 4 different data feeds and all of them show it that way.
If you are trading inside the hour your red will be giving sell signals while my green is giving buy or hold signals.
If you are trading inside the hour your red will be giving sell signals while my green is giving buy or hold signals.