Day Trade setups : EURUSD

The Eurusd daily closed has communicate with me that bearish move may resume soon. The engulfing on the Daily chart time frame indicates a strong imbalance. It seems the price wants to close the unfilled orderflow towards the daily chart demand at 1.3211.

Daily

Daily

Currently that is a clear downtrend.  So selling any rallies or at supply level would be a low risk and high probability. Its a matter on how you can quantify it.

Here is a short term day trade on the 5 minute chart.

5 minutes chart for Day trade

5 minutes chart for Day trade

My plan is to short the pair inside that supply zone at 1.3480 – 1.3493 within those area. My entry will on the 1 minute chart.

What important here is to monitor the arrival so as to avoid the Profit margin being reduced.

If it does, we have to ignore it. And move on other good seyup. Trading is all about focusing the process, not the outcome.

 

happy trading everyone.

 

Advertisements

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: