EURUSD long trade on 4/6/25
Pre-Analysis:
- I trade this based on daily price, which is trending up.
- Daily strength meter EUR = +1, USD = -6
- 4 hour strength meter EUR = +2, USD = -7
- Risk $10 with exit plan was to take partial profit at previous downward price in H4 timeframe. The remaining position will target at previous high of daily timeframe or maybe a break out to the new high.
- If price remaining at around my entry, I will reconsider to scrap this trade.
Entry:
- Entry time 3:26pm
- Immediate strength meter
- Scratch this trade with small lost.
- Entry should wait around 4:30pm as only this time price really show it broke the Asian session range.
- But if I got in later will I hold to my position as after that price went back towards my stop?
- Price really went up during New York session, but I was hesitant to re-enter as immediate strength meter didn't show EUR as the strongest currency.
- What a waste as price did went up and I may take half profit and let the remaining position as planned.