TraderAvDM
Long

EURUSD Channel Trading Strategies: Part 3

FX:EURUSD   Euro / U.S. Dollar
For the last 5 months, trading EURUSD has been very simple. I simply wait for price to either hit the top or bottom of the channel and then trade. In my previous idea I advised traders to SELL at 1.1330-1.1350 and that trade was very profitable too.
Right now, price is at the middle of the channel. So, it would be wise to wait and watch the price action.
If EURUSD goes to 1.1105 area, Traders can go long with SL below 1.1080. TPs can be set at 1.1180 and 1.1250 respectively.
If 1.1100 support level fails, watch the price action at the bottom of the channel around 1.1030.
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