As mentioned earlier next we must see how bears deal.with 1.1571 area.. The last place to face trouble based on H4... Let's see

EURUSD only

Day is still fresh and it feels good to be a bear

EURUSD only

So... merging the two charts H1 and H4 and concluding: Since I want to sell, I am looking to sell as high as I can BUT H4 tells me to wait at least until H1 candles close below 1.1595... If I do so, I might lose the leverage in case price continues ...

EURUSD only

H4: I simplified my chart so you can see why we are stuck... Bears are unwilling to break below 1.1595 because they know another layer of support will keep nagging them down until 1.1571... Bulls are unwilling to rally because they know candles have ...

EURUSD only

H1: I keep my bearish bias as long as candles open below the red triangle: 1.1600/1.1612 area... *I am waiting for London opening... No breakout yet and therefore I am on sidelines! **D1: 1.1582 area keeps bulls supportive, but I think eventually ...

EURUSD only

Bears are eager and slicing today... bulls never showed up even on M5... Anyways.. I closed all.. A little early, but I am calling it a day folks... See you tomorrow... Peace out...

EURUSD only

M5 to H4: from here on forwards it is all up to 1.1590.. If bears can't break below we will have a bounce up!

EURUSD only

The main problem for bears is the H4 resistance level sitting right at ~1.1590.... That's why it is not easy to continue lower!

EURUSD only

Next, bears must now watch if candles stay below 1.16022...

EURUSD only

Okay good... bears are slicing...

EURUSD only

M5: If you keep shorting like me now we must check reaction around 1.1601....

EURUSD only

M5: Bulls are trying hard but they will hit some invisible wall soon... watch: 1.1616 area! *and don't rush to sell.. there is no channel breakout yet!

EURUSD only

M5: early trading hours... for now: here, bullish it is...

EURUSD only

Meanwhile, on H1.... I marked 1.1618 as nearest resistance... while below, only selling! Waiting for London opening..... *Based on D1: 1.1638 is my main resistance!

EURUSD only

H1 Plan for Monday I added a snapshot of H4 onto my H1 chart below. There you can see that my H4 potential resistance level during London opening would be located roughly around ~1.1634, which is almost perfectly in sync with my H1 resistance level: ...

EURUSD only

I just found the time to send you the template with the settings you asked for to be used on M5... file *I assume you already know that the template should be copied into the MT4 "templates" folder. *I also assume that you already have downloaded ...

EURUSD only

Danke.. gleichfalls...

EURUSD only

M5: Closed all here at 1.1610 and calling it a day folks... Thanks to all who contributed with all their efforts and skills this week... Enjoy your weekends... Peace out...

EURUSD only

M5: waiting with a final short order opened at 1.16235.... Once closed I am going to call it a day...

EURUSD only

H4: Today it is all about 1.1650 resistance.. (1.1644 to be precise) If it breaks bulls can thrive... Otherwise just hesitation...

EURUSD only