J-P
Long

EUR/USD TO RETRACE FOR FEW DAYS

FX:EURUSD   Euro / U.S. Dollar
128 0 3
I WILL NOT GET INVOLVED IN THIS TRADE YET, I WILL WAIT TILL MONDAY TO SEE WHAT WILL HAPPEN IN THIS PAIR.
I HAVE DRAWN FEW LINES, HOW I PERSONALLY FEEL THIS PAIR WILL REACT.
IT HAS ALREADY HIT A 3 WEEK LOW, IT MIGHT GET LITTLE BIT LOWER THEN RETRACE.
IF BY MONDAY THE PAIR STARTS RETRACING, I WILL GO LONG.
WE WILL LOOK AT A SHORTER TIME FRAME TO SET OUR TRADE.

http://safeandeasyforex.blogspot.ae/
Comment: This Pair is behaving as expected so far, I will look at lower time frames.
I will wait for a retracement to around the 1.09000 level and open a long position.
Comment:
Trade active: Trade open with SL at 1.08400
first target will be TP at 1.09600
Trade closed: target reached
Comment:

I will wait for a retracement and retest to re-enter a long position.
If the support shown is broken, I will look for a short position.
Trade active:

SL:1.09200 & TP 1 :1.10200 & TP 2: 1.10500
Trade closed: target reached:
TP 1 reached.
Now I will move my stops to breakeven and wait for the second target.
Trade closed: target reached:

TP2 reached.
Now time to wait for the market to finish this move up, retrace and then rally 1 more time up. Please note that I am putting all these trades on this same page because the bigger picture is shown above on the daily chart. I am just showing how to break down this big move to benefit the most from it.
Of course the easiest way was to trail your stop with each new support on the way up. but the way i traded it so far, it was much more profitable.
Comment: Have a look at my daily chart :)
Now it time to wait for the market to turn and we will look for a short position soon.
Comment: 25 days move predicted perfectly!
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