EUR/USD long if you dare
Updated
I added to my short during the NY session at 1.0520. My 20 point trailing limit stop was triggered at 1.0440.
The gap from the weekly opening was filled right at the 4H high of 1.0424. That is one of the many reasons why I trade EUR/USD in the morning and AUD/JPY during the Asian session. Massive liquidity.
I initiated a long position at 1.0430 and first target will be 1.0467 and second will be 1.0487 which is right at the intersection of a down and uptrend line.
This is a scalp not a change in trend. EUR/USD is still pointing down. However, there are significant risk this week on the economic calendar, the shortened trading week for USA traders and of course ongoing geopolitical unrest, so stay nimble. Don't overthink it but be super aware of your daily and weekly levels.
This is definitely a period where I'll say, "Don't put a ring on it".
If you see the profit, take it.
The gap from the weekly opening was filled right at the 4H high of 1.0424. That is one of the many reasons why I trade EUR/USD in the morning and AUD/JPY during the Asian session. Massive liquidity.
I initiated a long position at 1.0430 and first target will be 1.0467 and second will be 1.0487 which is right at the intersection of a down and uptrend line.
This is a scalp not a change in trend. EUR/USD is still pointing down. However, there are significant risk this week on the economic calendar, the shortened trading week for USA traders and of course ongoing geopolitical unrest, so stay nimble. Don't overthink it but be super aware of your daily and weekly levels.
This is definitely a period where I'll say, "Don't put a ring on it".
If you see the profit, take it.
Trade active
I absolutely invite the firestorm and hateful rhetoric that may follow: I said it and will keep on saying it. As USA citizens and all global citizens, we are in for at least two years(until the midterms) for a roller coaster ride with the Former Guy. This price action is once again due to more threats against our NEIGHBORS in Canada and Mexico. When he says good morning, you'd better open the drapes and make sure the sun is shining. This is not about America first because no other country will ever strip us of our dominant exceptionalism because we innovate and are always ready to roll up our sleeves for a hard day's work. It is just a continued power play and an attempt to stay out of prison. Walmart, which is the grocer to the 99% in the USA has already indicate that despite their efforts to source products to avoid these "tariffs", they will have to increase prices on certain items. He will reignite inflation like a bonfire if he goes ahead with his tariffs. And there lies the irony: it is one of the major reasons why he was re-elected. Trade closed: target reached
I booked profit on my long position and has initiated a short position with a stop above 1.0528. As I have mentioned, tighten your seat belts but do not ignore the opportunities either.
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