In Trading Strategy Examples: Quick Charts

Pretty obvious one today. Clean break on this major downward sloping trendline and up to the order clusters we go. Spike base at circa 3250 and stops right around that 3230 area = magnets.

EURUSD Orders and spike base price magnets

 

Chart source: https://www.tradingview.com/u/nobrainertrades/

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  • Antony Young
    Reply

    Steve, what variables you took into account before entering? Or you bought the retest just based on TA? Appreciate,
    Antony

    • Steve W.
      Reply

      Hi Antony – Trendline lunge. Once I saw it being supported. Simple answer: wait for 3 pushes lower (completed yesterday) prior to a break. Again, the spike base is a major magnet – always is. Seeing that alone is usually enough to reverse a short term trend. Very simple methodology here.

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