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Resistance on EUR/USD at 1.7320 on H4

 
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ericstrelow

Resistance on EUR/USD at 1.7320 on H4

I'm seeing a strong resistance on the EURUSD at 1.7320 or thereabouts on the H4 chart. 

I'm in on a short position on a .01 at 1.17163 with a SL of 1.75 and a TP of 1.55.

Thoughts?

Mon, 06/25/2018 - 9:57pm
 
DC Offset

Fibonacci might agree with you. I would wait for confirmation... now, if only I could follow my own advice. Good luck to you!

 
ericstrelow

Trade is going well toward the target.

Updated my SL to 1.1685 and added to my position this morning.

Happy Trading!

 
ericstrelow

Additional positions advanced quickly to 10+ pips and since I am looking to advance to Silver, I booked the pips.

Original position is still open with SL moved to 1.168 and will let it run.

 
ericstrelow

Closed in SL this morning and stopped out at 35 pips on original position.

Graduated to Silver 1 - Woo Hoo!

Back in the trade now with a new entry at 1.16424, SL at 1.168 and TP at 1.155 as it broke through another resistance at about 1.165.

Happy Trading!

 
Sage Light RL

1.1667 to buy, stays under keep on sell

determined by 5 day trend and .382 past 24 hour fib

2018-06-27 14_42_39-2100326428_ JAFX-Demo3 - Demo Account - [EURUSD,M5].png
 
Rookie

Mike that's a really great charting and presented very clearly. May I ask you how many Pips you have earned off the analysis?

 
Sage Light RL

I'm contributing to the thread for EURUSD analysis. I've recorded very predictable direction if over/under .382 and .618.

For example, I'm in CJ sell now, but it's not under .618 yet, so consider it at risk. But it's sitting right on .618 and 5 day trend says down. I like to evolve strategies, but currently thinking how to money manage for toggles on .382/618.

 
Rookie

I understand and I for one appreciate your contributions along with all the bees, that's one of the main things that make this hive great.

 
Sage Light RL

yes but who knows... perhaps the Monday time slots on the Calendar (webinars) will help it more than my own money management! :D

Certainly more than the Tuesday slots?

 
Sage Light RL

@rookie no more

I do have one strategy that I like very much and think could be a long term consistent tool. But I've been experimenting instead of consistently trading one strategy, probably my worst habit. But I attach a picture of it. It uses standard deviation of a trend given days input. It's a lot easier to use than experimenting and scanning for diff strategies. This method is very consistent. Use on >days.

2018-06-27 15_56_13-2100326428_ JAFX-Demo3 - Demo Account - [AUDUSD,H1].png
 
Rookie

Thx for sharing this Mike.

 
ericstrelow

147 Pips so far.

Another 20-30 to go.

Happy Trading!

EURUSD 6-25 Trade.png
 
Rookie

Eric, Looks very well applied usage of Bands for intermediate trading.

 
DC Offset

@ericstrelow - Very nice work! Chapeau!