Right, so today we had some European PMI news lined up. Not that I was actively waiting for it do something but news is one thing that's always on the agenda for a forex trader, specially intraday time frames.
So Dax started with an uptrend already, and there was no entry. I took a long of the overnight range knowing well ahead of time, that it was highly likely that it would turn into risk. But also knowing that possibility of breakout was also there.
Both German and French PMI came out negative, far worse than expected. And that meant, SELL THE EUROS.
Before the news, I saw a setup 1 on #USD/JPY. Love this setup 1. It was great looking setup to go short. PO was set well before the news.
Also Took a setup 0 on the EUR/GBP M15 chart
So Dax started with an uptrend already, and there was no entry. I took a long of the overnight range knowing well ahead of time, that it was highly likely that it would turn into risk. But also knowing that possibility of breakout was also there.
Market is pessimistic these days so any bad news will attract more selling, with relatively much ease.
Both German and French PMI came out negative, far worse than expected. And that meant, SELL THE EUROS.
Before the news, I saw a setup 1 on #USD/JPY. Love this setup 1. It was great looking setup to go short. PO was set well before the news.
Also Took a setup 0 on the EUR/GBP M15 chart
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| EUR/GBP a Setup 2 Pink Dot but a breakout entry overall. Working pretty nicely thanks to negative news for the euros |
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| this is #gbpjpy it had a classic breakout setup, entered market order below box when it started to move after news |
EUR/GBP M15 Out with 46 pips Profit
USD/JPY H1 Setup 1 - SL to BreakEven. Going towards Target Zone 1
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