EURUSD Long - Order Block Analysis
Entry: 1.12724 - 1.12974
The pullback provides a good risk-to-reward ratio to enter longs inside the abovementioned order block. I've already entered a small position in case EURUSD starts bouncing here.
Stop loss: 1.12437
If the order block fails to hold, it would mean that the last bullish impulse was simply a fake-out. This provides us with a clear invalidation level. Therefore, we can place our stop loss in the area below this order block.
Targets: 1.14358 (TP1) & 1.15619 (TP2)
The bearish order blocks above give us clear targets to hit.
This idea is for educational purposes only. Please always exercise proper risk management.
Good luck!
- EURUSD broke out of its 7-week-long consolidation range.
- The bullish impulse resulted in a daily order block (1.12724 - 1.12974), where we can potentially layer in limit long orders.
- In confluence with our recent DXY short idea posted on 16 Jan 2022.
Entry: 1.12724 - 1.12974
The pullback provides a good risk-to-reward ratio to enter longs inside the abovementioned order block. I've already entered a small position in case EURUSD starts bouncing here.
Stop loss: 1.12437
If the order block fails to hold, it would mean that the last bullish impulse was simply a fake-out. This provides us with a clear invalidation level. Therefore, we can place our stop loss in the area below this order block.
Targets: 1.14358 (TP1) & 1.15619 (TP2)
The bearish order blocks above give us clear targets to hit.
This idea is for educational purposes only. Please always exercise proper risk management.
Good luck!
Trade active
Trade closed: stop reached
