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EUR/USD analysis | Sept 4, 2019

After closure of buy trade here, we'll look for short entry if it will be supported by bearish candle pattern on 30m or 15m time-frame.

Downward thrust with all candle closed below blue MA (moving average), suggests that price may start moving down after reaching an immediate resistance. It's called Bread n Butter Trade and if it happens (starts going down), we should target 61.8% of whole upward retracement since yesterday.



5 comments

5 Comments


Anand Dubey
Anand Dubey
Sep 05, 2019

I moved SL to BE. I will remove SL and will have no SL between 4:30 p.m. EDT and 6:00 p.m. EDT in order to avoid getting stopped out. Spreads are increased in this low volatility period and price often touches SL.

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Anand Dubey
Anand Dubey
Sep 05, 2019

NFP is going to be released tomorrow, so it's better to exit the trade as soon as possible. Therefore, I'm targeting only 50% (instead of 61.8%) of whole move up in my sell trade. This has given me R:R of 1:2 which is satisfactory.

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Keon Consultancy
Keon Consultancy
Sep 05, 2019

Entered short sell @ 1.10546, soon we'll move SL to BE.

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Keon Consultancy
Keon Consultancy
Sep 04, 2019

As our buy trade got completed, we'll now be looking for bearish pattern on 15m or 30m time-frames. Let's see if we get our 'Bread n Butter'.

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Keon Consultancy
Keon Consultancy
Sep 04, 2019

It hit our target which was swing low (1.1026) on 1D/daily time frame.

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