Day TradeKing W. Harbmayg's Journal Entry #6
1. Thesis: Price broke previous day's high before pulling back, giving what is likely a false break since structure is still primarily to the downside. I believe sells are in order; with my stop loss set at the above all high, I feel relatively secured if this move is indeed a breakout reversal.
2. Performance: (1 out of 5)
Confidence— 5
Discipline— 4
Communication— 5
Eurusdshort
EURUSD H4: Bearish outlook seen, further downside below 1.0620On the H4 timeframe, prices are showing bearish order flow with lower lows and lower highs formed. A pullback to the resistance zone at 1.0620 could present an opportunity to play the drop to the next support zone at 1.0500, in line with the graphical low and 50% Fibonacci extension. Prices are holding below the Ichimoku cloud and 50 EMA, while Stochastic RSI is in the overbought region above 80, supporting our bearish bias.
EURUSD Downtrend. The trend retest in 1.06128 at 0.236 Fibonacci Retracement level. A possible downtrend to 1.04824 at 0 Fibonacci Retracement Level.
The Federal Reserve still considering to increase the interest rates due to a still high US inflation rate.
The Fed has implemented a series of interest rate hikes in an effort to tame inflation that had been at its highest level in some 41 years. Markets widely expect a few more hikes before the Fed can pause to assess the impact the tighter policy is having on the economy.
“Simulations of our baseline model suggest that the Fed will need to tighten policy significantly further to achieve its inflation objective by the end of 2025,” the researchers said.
EURUSD 200 PIPS FIRST TPin my previous analysis, I predicted EURUSD sell, and it moving nicely according to the analysis. I have booked 200 pips first TP and move stoploss to break even, I'm expecting it to touch the yellow zone I plotted. from that yellow zone we will know if it will continue downtrend or just retest to the upside.
Euro can break support area and continue to fallHello traders, I want share with you my opinion about Euro. Looking at the chart, we can see how the price formed the seller zone, which it tested and begin to decline. Over time, the price broke through the support area 1.0625-1.0610 and continued to fall. We are also seeing the Euro reach the next support area, which it re-tested and begin to rise. The price is currently trading near resistance line, where it has created a possible fake breakout. I think the Euro can continue to fall, so I decided to set two goals. Support area 1.0540-1.0530 and at level 1.0500. Please share this idea with your friends and click Boost 🚀
EURUSDEURUSD has been examined in different dimensions:
1- Strong supply and demand levels that I identify with my own indicator and system.
2- The structure of recently formed waves
3- Current market momentum
4- The structure of classical and price patterns
In this idea, I identified the direction of the market in different ways and in the second step, I analyzed the potential of continuation or reversal. Usually, paying attention to the trend and strength of the trend can greatly increase the accuracy of the analysis.
In general, I tried to describe the continuation of the movement in the simplest possible way in the diagram.
⚠️ Disclaimer:
This is a personal opinion and you are responsible for any trading decisions.
Day Trade: ShortKing W. Harbmayg's Journal Entry #5
1. Review: I’m going with the trend. I have a proclivity to counter trend, sometimes without even knowing it. I’ve endured a series of losers of small losses in the past few days due to my lack of awareness of market structure. I have some bad habits that I am still rooting out. Here forth, I aim to be 'perfect' my ability to read market structure and to consciously take more trend trades which are to be held. Also my stop losses were not placed at the above all highs and under all lows and so this too led to me being stopped out before my TP was reached.
2. Performance: (1 out of 5)
Confidence— 5
Discipline— 4
Communication— 5
EURUSD H1: Bearish outlook seen, further downside below 1.06500On the H1 time frame, prices are showing bearish order flow and facing bearish pressure from the resistance zone at 1.06500, in line with the 61.8% Fibonacci retracement and extension where we could see a further downside before prices reach the support zone at 1.05800. Prices are holding below the Ichimoku cloud, supporting the bearish bias.
SWING EUR/USD 1D timeframe 💶The two specific levels mentioned are 1.03462 and 0.98358, which are referred to as support zones. These levels are important because they represent areas where there is significant demand for the currency pair.
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In this scenario, My trade is entering a short position on the EUR/USD currency pair with an entry point of 1.06197 and a stop loss at 1.07967.
This means that I'm betting that the value of the EUR/USD will decrease.
Happy trading guys :) B
EURUSDThis situation has been examined in different dimensions:
1- Strong supply and demand levels that I identify with my own indicator and system.
2- The structure of recently formed waves
3- Current market momentum
4- The structure of classical and price patterns
In this idea, I identified the direction of the market in different ways and in the second step, I analyzed the potential of continuation or reversal. Usually, paying attention to the trend and strength of the trend can greatly increase the accuracy of the analysis.
In general, I tried to describe the continuation of the movement in the simplest possible way in the diagram.
⚠️ Disclaimer:
This is a personal opinion and you are responsible for any trading decisions.
if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad ❤️️
EURUSD H1: Bearish outlook seen, further downside below 1.07080On the H1 time frame, prices are showing bearish order flow and facing bearish pressure from the resistance zone at 1.07080, in line with the 61.8% Fibonacci retracement where we could see a further downside before prices reach the support zone at 1.06200. Stochastic is approaching the resistance at 94.84 as well and a pullback to the resistance area at 1.07080 could present an opportunity to play the drop.
EURUSD open SHORT Observation: Possible return long on higher TF for liquidity
Overall trend: Bearish on D1 & W1
Confirmation: 2 BOS on 15, gap for price to retrace to from Fridays long move, 3/4 H4 candles not making highs
Entry: after 2nd 15m BOS
Stop: above previous highs
Concerns: GU drop causing EU rise