Friday, 6 May 2016

EURUSD 15M - JUST AFTER NFP - BEFORE HEADING TO WEEKEND

Hello I'm MJ

Today before the trading week is over, just after an hour of NFP we entered the market

EURUSD 15M
Expectation NSL

Reason for Entry
1) Fib retracement @ 38.2 ( I don't consider the spike during nfp)
2) Bar by bar analysis - Look at the color rotation and how the bar engulfs to the downside
3) Structure Area - This hold the previous resistance area

Stop loss - just above the 38.2 fib retracement
Take profit - 1.1300 area

First goal - BE(break even +2 pts) when the market moves in our favor about 20-30 points or when the price reach the previous NSL level.
Subsequently - train aggressively on each new resistance area


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