Vazzyb

Example of a trend continuation trade with Euro Dollar

OANDA:EURUSD   Euro / U.S. Dollar
This is how to set up a trend continuation trade.
Look at past retracements and see how big they are.
Wait for a retracement like on Euro Dollar today.
Arrange your S/L to be slightly bigger than the biggest relevant retracement.
Set your T/P at somewhere with 2x or 3x of your S/L

Comments

once retracements get smaller it can reverse quickly as well. Ignoring fundamentals good one..
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Vazzyb SujitShah
@SujitShah, yeah but I don't think we've had a move that would necessarily signify exhaustion yet. Also, those moves generally co-incide near to some big fundamental shift where reversal begins - again we've haven't had that. You say ignoring fundamentals...the fundamentals are that we have a severely weakened euro based on the expectations created by the fed in 2015 that were going to be raising the rates. These rate rises have been extremely slow and if Euro stops printing so much money, which they have hinted they might, then the Euro should start moving back towards a more reasonable level. < 1.25 for EU is a very weak Euro based on PPP. Those are the fundamentals.
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