+【9/7~8 EURUSD Euro Dollar】(444)/ Strategy near early European session moves
9/7 EURUSD Euro Dollar
History from market awareness to entry and settlement and rationale
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As for the market environment
4h,
Pullback after MA breakout, roughly a high downtrend line also breaks to pullback after it breaks upper
1h, MA converging, battle at high downtrend line, 20 bars ago drops sharply, so MA is expected to turn up and about to move
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Daily, MA support/resistance pullback supported
15m, orange neck break first hit is also a direct hit on 1h MA, and to avoid European initial moves noise around 15:00-16:00 just before 15:00, confirm the actual body. Around 15:00-16:00 European initial moves have a lot of fakes, so either wait for confirmation before the next breakout, or pull back and then enter on the next breakout is preferred.
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Monthly, MA support/resistance pullback buying area
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Entry screen ↓
Candle at 15:15, place buy order and enter long
After seeing the real body just before, set buy order on the next breakout
SL is below the recent low
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① I do not trust the evening surge, so take profit at 1/4 when the 1h fractional level is reached, white line (profit-taking positions seen on multiple timeframes are consolidated later)
② After the evening surge, if the upside is strongly capped and it’s a US holiday, it may not continue; when it backtracks again, take another 1/4 profit.
Move the remaining SL one level up to eliminate risk.
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Finally, move SL another level up and close all positions overnight.
15m breakdown and MA breakout position.
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Profit-taking positions seen on multiple timeframes
1h orange line, 4h support/resistance band, take 1/2 profits. Remaining positions depend on Dow breakdown.
That is all for now. If you have questions or outputs, feel free to ask.