Tested near term support with an indecision candle on the daily chart above.
On a zoomed out hourly chart above there appears an obvious uptrend with a divergence on the stochastic.
The USDX (red li...
Up and down last week, although ended net positive. Premature short on a wolf wave formed on the 4hr chart that never confirmed, and then continued up. Very silly loss of 30 pips.
Anyway, plan for ne...
Still in by the skin of my teeth. Funny how my patience ran out and I couldn't wait for 1.3050. Enter and then blow me it goes down to hit it. Looks like more hope involved in it going up but sticking to my orginal analysis.
Okay, that worked out with a profit of 79 pips. Out of market and awaiting any retracement on the 1 hour timeframe to the 1.3060-1.3050 region before entering long again. May never happen but no rush :-)
On the daily time frame I think market structure has broken to the down side so will be prefering short trade set ups:
However, on the 4HR chart, the market structure appears to be retracing. On drawing ...
Okay, I can't just drop swing trading but I like the day trading (scalping) for different reasons. Is it wrong to do/try both?
Time will tell as I am going to give it a go.
For the swing, I am looking for...
Well, caught 4 of those on the fall for EURUSD, thats 15.9 pips for the day. Me logging out on that as I am way to inexperienced to trade near strong news items. Good luck all, FXWhitebelt