EURUSDHello traders! Let's look at the M15 chart. It shows a linear regression channel indicating the strength of buyers and an upward trend movement. The market is heading towards the upper channel boundary at the level of 1.17699. To open a position, I consider the possibility of buying from 1.17305 - the lower channel boundary, which should hold the bears. When the target is reached, it is worth waiting for pullbacks due to volatility exhaustion on M15 and a potential downward reversal. In this case, staying long with buys could be risky. A more favorable option in this situation would be to wait for a correction to the lower channel boundary and then look for an entry point to buy. This will significantly reduce costs in case the signal from the channel does not work out.
On the hourly chart, I notice a strong bearish trend currently. I want to wait for the upper channel boundary at 1.17573 to be reached in order to sell down to the level of 1.17186, as this will allow me to maximize profits. However, I understand that a breach below the target could signal a continuation of bearish activity. In that case, I will be ready to quickly change my plan to adapt to the changing market conditions. My main goal is to find a good entry point in the market. I pay attention to the edges of linear regression channels as they indicate possible volatility constraints for a particular player. This helps me make decisions based on the analysis of the current situation. I am always ready to adjust my plan if the market situation changes. For example, if the level of 1.17573 is breached by bulls, it could be a sign of bullish interest in the market, leading to a reassessment of the situation and cancellation of sales. I will closely monitor market changes and make decisions based on the analysis of the data received.
