EURUSD short term income

I might get this wrong. BUt who knows I might get it right as well. It is brought to my attention , we are in a Weekly Demand level. ( Weekly Chart. ) But it has not ( price ) acting accordingly meaning not bouncing off this bigger time frame level. USD index is almost passing off from its supply level. SO meaning we might have some room for it to move down further from the current price level.

But to sell something at the lower curve of the bigger time frame, and probably at a stage 3 down trend level already, its a bit riskier to sell. BUt to squeeze some if any might do the trick.

On the 15 min chart. I am looking at a supply level that was off the NFP last week. Such a strong sell and imbalance there. Some of my colleagues suggesting a liquidity run ( whatever that means ).

I am correlating it with the USD index this time and also this time I am using candlestick chart so that everyone can see it rather than from my Point of Figure chart. And its pretty common that most people are using candlestick chart.

15 min chart supply

15 min chart supply

Here is what the USD index looks like. also might approach its demand at the same time approaching supply.

USD index demand

USD index demand

My plan is

SELL limit at 1.30828

SL                       1.31079

TP                       1.30406 or 10 pips if you wish 🙂

If that USD index reach its demand at the same time supply is hit, that brings the odds in our favour!

Good hunting out there!



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4 thoughts on “EURUSD short term income

  1. Sow says:

    Hey Haji,

    Your TP could be lower right? We don’t have any demand until the bottom of the NFP big drop candle, or are you going to wait until your order is filled then look for the nearest demand.

    • Haji says:

      apparently this trade did not happen. so I cancel it. sometimes I just go for 3: 1 reward sow. But after the drop it creates a new supply which was hit today and it fall nicely which I missed it, as I was not checking my charts today. that would have been a good trade.

  2. Sow says:

    Gosh, missed by only 8 pips!

  3. Sow says:

    It’s interesting that you used a level based on a candle generated in a news event. In my experience these ‘news candles’ seldom have any demand or supply left in them. But I think the NFP is an exception. Plus I have only 100 s/d trades under my belt so maybe the small few I have seen have just been weak.

    Thanks for the response Haji.

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