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EU HITCH HIKERS GUIDE for OANDA:EURUSD by cobykhristopher

One of the first things you learn is “retail traders do not make the market move”. It’s the big boys so to speak that have enough capital to make movement. With that being said we are all just trying to catch a ride. I am currently bullish on Fiber. Why? Price is respecting bullish order blocks and my 9 ema is over the 18 (no brainer bias, looking for buys). Price has pulled back into the previously created range giving me two points to draw my fib from. From here I am looking for Day of week coupled with time and price to help me find a buy. Meaning by Tuesday London I would like to see price make a swing low between .13755 and .13440. Once I see the rejection I am looking for (by Wed at latest) The plan is to find my entry point during NY session by way of OTE retracement. The most important thing I need to remember is there is no need to catch the whole move. We simply want the “Lion’s share”. From .13620- .14358 is approx. 74 pips. If you could catch 20 – 40 pips of that potential move that would be a good win for the Week. Why 20 – 40 pips? While that goal may seem small anyone who has ever traded 1 lot will tell you that is good money for a weeks work. Decreasing greed improves consistency and profitability, which should be everyone’s over all goal. You may notice that I have my trade plotted for higher prices. Consider .14350 as safe price to take profits. In the event we see Dynamic movement upward and price easily shatters .14780 we can look to take profits (scale off position) at the extension levels I have marked with bullseyes. In order to evolve as a trader/analyst I am making an attempt to be FLEXIBLE. Flexibility should force me not to marry my analysis and open my eyes to catch trades I would normally miss. So what else could happen next week? Two scenarios come to mind. The first is price could slam below .13130 and quickly reject to the upside. Yes price can be bullish but the reality is there is always a chance for market makers to run stops before going up. This is yet another reason to not chase the. Whole move and to use at least a 30 pip stop for breathing room, which should also force your hand to use some what good leverage by using proper lots. The next scenario is price run lows and continues to run lows until it has actually reached a turning point for the upside. These particular lows are marked as Liquidity pools. If the bond yields are any indication (they are) we will see fiber reach for higher prices in the coming week. Vaya con Dios
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