Medium to Long term EURUSD swing

It’s been a while  I have been posting trades. May be if you want to join my lead. I have EURUSD on target to get a swing trade for this month before the August Holiday.

Here is my current plan

SELL Limit @ 1.32153

SL @  1.32678

TP @ 1.29304

 

If along the way down, I have fresh supply, I will use it to add position to increase the profitability before reaching the opposite level ( demand ).

The supply level I put my orders in 4H chart, is inside a supply on a bigger Time frame . It is a weekly supply, also a daily supply and a 4h supply at the same position. So the the probability that price will turn is imminent.

Reason ?

Here is the odd enhancer score

Strength = 2

Period at level = 1

Profit margin = 2

Retracement = 2

Larger time frame Level = 1

Arrival = 1 ( becasue most of the obstacle for the rebounce are wash away ). so No demand until 1.2920. SO What we have here is a least path resistance.

To ensure the arrival will be strong into the level, most of the supply level ( pockets of it ) are also being taken out so as nothing to prevent a strong price to go into it.

EURUSD_4H

 

The USD index also confirms a Demand on the opposite level. This makes a good gauge to anticipate a low risk entry with a high probability reward.

usd_index_4H

 

Now remember, I have no knowledge of the news at all. SO this is purely Demand and supply set up for the turn back on the down trend.

It has entered a demand level yesterday to make the push higher so as to convince Novice and retail traders out there to buy a breakout of a higher high.

I know that from a fact, that the most common mistake a trader make is 1. Buying after a rally 2. Buying into a supply exceed demand .

The big institution, banks or hedge funds out there are selling at that supply. That includes me! SO may the best trader wins!

 

Happy trading!!

 

Advertisements

2 thoughts on “Medium to Long term EURUSD swing

  1. wenpo says:

    Hi warithu,

    Long time does not see you after an issue with the legal that affected you in the past.

    How are you? Do you still remember me? How is your trading so far? Getting better?

    Cheers

    Wenpo

    • Haji says:

      Hi wenpo. Yeah its been a while. I have been busy with all sort of stuff. Yeah I still remember you. I am doing fine. What about you ? how did yo all go with mr Lucjan ?

      My trading is getting better and sharper. I now swing and short term on some occasion. Still sticking to my Supply and demand knowledge. Been forming a group a supply demand traders where we all trade the same method. very lively at some point.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: