TraderTroopa
Long

Reversal on EURUSD, LONG this week

FX:EURUSD   Euro / U.S. Dollar
Why should we be bullish: Downtrend channel was already broken last friday, supported by strong indications (Strong MACD and Stochastics) coupled with price action (higher highs and higher lows). If we take a step back at the daily chart , you can even notice that 1.10720 was a retracement from the fibo!

When to enter: Let's wait to show a buy signal from the stochastics or once it retraces to the lower uptrend channel . But the TREND must HOLD as a pre-condition

When to exit: Once it reaches highest resistance at 1.1014. This is consistent with fibo extension which I laid down on the latest swing.

Risk reward ratio: 2.14

Comment: Bounced exactly at the Fibo
Comment: partially locking in profits
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out