Attached is a screenshot for EURUSD dummy trade today. Here is the battle plan I formulated for this trade.
From the 60 mins chart price is above MOR and buyers have control. The nearest overhead resistance is + 110 pips. Fibo Ext highlight levels to watch + 85 pips.
Three star Eco news (German Eco Sentiment) is forecast 1000 – Avoid!
From 15 mins chart price is above DOR High.
Intentions: look for buy entries once eco news is through.
15 mins Gann Eights, 60 mins Fibo Ext and 60 mins resistance indicate a confluence of target levels + 75 to + 110 pips above. There is no untested resistance overhead from 15 mins chart.
1000 Eco news is through.
1100 Bull engulfer prints. Tight stop loss – 13 pips. reward/risk 5 worst case.
Buy stop entry @ 1.13011, stop loss @ 1.12872.
Stopped out on next candle. Minus 3 %.
Price now below DOR Low and EURUSD not a candidate market.
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