EURUSD Orders, Levels, Break

Posted September 4, 2013

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.

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

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Spike Base, Technical Commentary

Steve W.

Since 2008, ParaCurve (formerly NBT) has been a provider of a wide range of articles geared towards a common sense approach to trading using fundamental market analysis in conjunction with globally identifiable technical levels. Steve is a 17 year trader, having formerly worked as a sell and buy side global macro analyst for several of the largest financial institutions in the world. You can follow us on Twitter or Facebook. Series and support at FXS Analytics.

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Antony Young September 4, 2013
Reply
Steve, what variables you took into account before entering? Or you bought the retest just based on TA? Appreciate,
Antony
- Steve W. September 4, 2013
  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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