Hi fellow traders, Here is another educational post on trading ranges, I would like to listen to your judgment points if you have any more to add to the above. So would you long or short this trade?
I'll definitely go long with a reasonable stop loss
Sktradingview1
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Long
ethhunter
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Long. Been short for a while now, feels like a good timing to enter now.
CRair
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Hi Master! Thnks for the chance of learning :)
By your Chart I will long to the upper resistance and adding with the test of the upper resistance as support when Wyckoff phase C/D will be clear.
MID TERM TA:
Looking at the weekly candles we are in a Distributing zone, rejected from previous weeks candles highs/closes and we go to next support/demand zone. see next chart. It can take 1 month or so.
LONG TERM TA:
And looking on MACRO we have a long way down iaw next chart you can see the descending channel that EUR/USD is following for the last years. It can take 1,5-2 years or so.
FUNDAMENTALS:
Following FA in USA the FED is increasing the interest of money, this year we go to 2%-2,25%(Since last two weeks is in 1,75%) and in next 2 years will go to 3,5%-3,75%. The capital goes were it has the higher interest so time to be in dollars.
Thanks for your trainings.
Appreciated!
sumastardon
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Target achieved.
No Fibos.
Just parallels and fixed levels from the past - the past is prologue. As price has memory
stop loss under 1.214
target 1.250
right?