EUR/USD Swing Long

16 oct. 2023

Huge level at 1.0500 very used previously on the weekly timeframe.
We also had in weekly a break of the down trendline with a phase of accumulation during weeks.
On the 4h chart we have a very significative pattern to trap the retails and giving us a strong confidence to enter long, here is the mecanique behind it :
1 - First bounce on the 1.0500 level for the Too-Early-Guys with stoploss below
2 - Breakdown of the 1.0500 hunting all stoplosses and giving retails the need to short now
3 - On this strong sell-off of retails, big hands accumulate all the liquidity of the market buy everything they can
4 - Price go back above 1.0500
5 - Price try again to come to the level but this time it hold very strongly and the big hands will not give it back

So the last bounce on the 1.0500 level is the perfect stop to enter with a minimal risk and huge reward.

23 oct. 2023

Note

Great reaction for now as we expected to. Huge level of resistance now so can take some profit but for me was most a swing position so in this case I take the risk to end BE but prefer to keep my great execution trade the most time possible full size