EUR/USD Weekly Trade (Week 21 - 25)

Lets start with EUR/USD.. If we read the news, we all know that the situation in euro zone is bad right now,. I don't think they'll come up with any solution to get out from the debt problem anytime soon. That's why i will always look for short opportunity in eur/usd, not going to buy unless i see a really really clear reversal sign..

I've been learning about price action these days, using support and resistance, candlestick pattern combine with chaos method and it really amazed me... I rarely use the alligator now, but I still use it sometimes to trail my stop..

Now let's look at the chart

EUR/USD Hourly

Price break strong support after consolidate for a while, then there's BDB 1 near resistance, our first signal, a false break, if we zoom out to 15 min chart, we can see a clearer picture..

EUR/USD 15 min

Sell at 1.3402, Stop loss would be one tick above the bdb high at 1.3416 (-14 pips risk level)
Closed half of my position at 1.3375 for 27 pips profit and closed the rest at 1.3342, 60 pips profit..

Then there's BDB 2 (hourly chart), I was hoping it to come more close to the resistance, so I missed it then there's the breakout - continuation type of pattern. Let's zoom out to 15 min chart...

15 min chart

Enter sell at 1.3313 (breakout fractal), Stop loss at 1.3336
No more support, no sell signal so I just let it run for this one, Closed 2/3 of my position at 1.3213 for 100 pips profit and let the remaining, just in case it goes down near to its daily low at 1.3144.
But the price rebound and hit my trailing stop at 1.3260 for 47 pips profit..

Then there was BDB 3, I was expecting this, every time I see this candlestick patttern, I will always look if there's a key level (support/resistance) near it. I can't see it in the hourly chart, but if you zoom out to 15 min chart, we can get a clearer view..

15 min chart

Enter sell at 1.3276, since it's friday and near the close of the day, I closed all my position near 61.8 fibo retracement at 1.3246 for 30 pips profit...