04:32 PM (GMT+7)
After calculating the results that I made in EUR/USD by using the Time frame of 30 minutes, I concluded I was not suitable to use only the time frame of 30 minutes. Now I will use TF4 H as my based with other time frames as support.And it might not everyday I made a trade. My main Idea on my next trading plan is short. I will tell you why. For now I just wait and see. This idea for short it is my plan, it might will change as market change. But the fact is, now I just sit and watch all EUR/USD's movement
This is TF 4H chart which is I'm used as my basic plan to trade, click to see:
From that chart, EMA 5 (Blue) and EMA 20 (green)already crossed down EMA 66 (red)and RSI fall bellow 50 wich mean bearish already comfirm.Neverthles,there are several reversal candlesticks pattern ( watch 5 previous candle) indicated bearish lossing the momentum and need to pull back to collect more power to make another penetration.Price action will try to push and carry out with it ema 5 to ema 20 wich is 1.4230 area where there are several barrier that have been formed by Parabolic SAR. If I am right then price will try to push EMA 250 (purple) in area 1.3988 and next if RSI hold below 50 it will continue to push EMA 365 (pink) in area 1.3871
CORRECTION:
I make mistake when type, it should be like this:
....carry out with it ema 5 to ema 20 wich is 1.4130 area where ...
UPDATE - 07:33 PM (GMT+7)
ALready Sell EUR/USD at 1.4052, detil from my decision will be update soon, after I completed set my TP and my SL
and here are my considerations:
EUR/USD TF 1H,after price climb to 1.4096 it fail to hold and next candle forming dark cloud bearish candle. EMA 5 (blue) already try to cross up EMA 20 but failed to break it, in my basic reference (cornflower method) it is the best time to open re sell.RSI also stay below 50.
EUR/USD TF 15 minutes, EMA 5 (blue) and EMA 20 (green) alredy cross down EMA 66(red) wich mean bearish cofirm continue,RSI and Parabolic SAR also boost it down. It's in line with TF 1 H so I decided to sell it. Possibility it has a chace to 1.4130 but I hope it's not happen so I don't need to make locking or averaging. I already take one short for EUR/USD at 1.4052 with open target, and no SL, I just will watch it if EUR/USD moving up to 1.4130 area I will set new plan.
