empty
 
 
27.10.2021 12:36 PM
Trading idea for EUR/USD

This image is no longer relevant

This plan is a continuation of the previous bullish strategy on EUR / USD.

As seen on the chart, an opportunity opened for sellers to take short positions. But it is known very well that in popular instruments such as EUR / USD, market makers set traps in order to lure traders. An example of this is the picture below.

This image is no longer relevant

This suggests that bearish traders should take caution, especially around 1.16600, where most sell stops were placed.

As for bullish traders, since there are three wave patterns (ABC), where wave A represents the buying pressure since October 11-19, they can take long positions up to the 61.8% and 50% retracement level of 1.16. Set stop loss at 1.15550, and take profit on:

1. Close 2/3 of the position on the breakdown of 1.16700.

2. Close the remaining 1/3 on the breakdown of 1.19000.

Refrain from taking short positions, otherwise, profit may be lost.

This analysis is based on Price Action and Stop Hunting strategies.

Good luck and have a nice trading day!

Andrey Shevchenko,
Analytical expert of InstaForex
© 2007-2024
通过InstaForex赚取加密货币汇率变动的收益。
下载MetaTrader 4并开启您的第一笔交易。
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $6000 more!
    In December we raffle $6000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

推荐文章

现在无法通话?
提出您的问题,用 在线帮助.
Widget callback