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EUR/GBP trade setup

Armands Posted 4 Mar  in #GBP #EUR #EUR/GBP

Had a short position opened, but exited way to early and not at the best possible point. Still working on improving my new setups.
After huge drop pair recovered more than 50% of that. A new swing low formed, not followed by any sufficient continuation. Quick break above this high and close below it with an outside bar! However there was not enough steam left for this downside momentum to continue. I am still holding onto this position, but SL is ti tight in case the price shoots up in the ea…
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EUR/USD long term outlook

Armands Posted 19 Lug  in #EUR #USD #EUR/USD #Long Term
On weekends I like to take a look at larger time frames and see what is the picture.
I look at the monthly chart first, marked one recent swing high and one swing low. There have been 4 attempts to break above that swing high (marked with blue ellipse). Each time price was pushed slightly higher. It is very likely that a large move down will follow.
Could go as low as the previous swing low at around 1.2750.
Another possibility is that recent weekly lows (marked with white rectangles) will be ta…
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My EUR/CAD trade

Armands Posted 14 Lug  in #CAD #EUR #EUR/CAD #Trade Setup
This setup formed simultaneously on few CAD crosses. I was hoping to see it on USD/CAD, but it did not. It was pretty close though. I chose this pair as it offers higher risk to reward ratio at current market conditions.
The idea is very simple. Rule #1 is to trade with higher time frame trend. I wait for price to form lower low and then suddenly reverse and go pass previous high or even few of them ( to have a sell setup ).This is what is being done by institutions to get the money of traders!…
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EUR/USD possible setup for tomorrow

Armands Posted 16 Apr  in #EUR #USD #EUR/USD #Trade Setup
Last week we had a really strong bullish trend which finally run out of steam at 1.3900 level. So what now? Market gaped down on open and didn't manage to go above the close of the last week. The price has retraced to a horizontal support level. Actually two of them. Plus it also matches up with 1.3800 and 50% retracement level. So this can be considered as a very strong support level. Economic data also didn't bring us any surprise and there is no important news left this week either, so there…
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EUR/AUD - great long term opportunity or just a trap?

Armands Posted 3 Apr  in #AUD #EUR #EUR/UAD
Looking at the charts today I noticed something that caught my attention. In this post I will try to share my idea with You. First I want to draw Your attention to EUR/AUD monthly chart to see the overall picture.
We can clearly see that last move up has been a correction .It has made a higher high kind of tricking traders into buying. It happens so often before the price drops significantly. There is also a solid resistance at this area marked with ellipses. Price also went back down below 1.50…
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EUR/USD outlook

Armands Posted 1 Apr  in #EUR #USD #Eurusd
Let's start off with a weekly chart
Since the September last year pair has formed an uptrend channel. Recently bounced off of the resistance near 1.40 level. Currently trades within the last weeks range. Through the candle combining we can see that last 4 candles create a bearish pin bar signaling sharp shift in sentiment. Now the first thing to look for will be the breakout below the low of the last week. Too see a better picture look at the daily chart
Here I would suggest two entry scenarios.…
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