Slow down EURUSD!!

Good morning my fellow mates..

I bet making money aint stressing now huh?!

OK. What do we have here? EURSD broke resistance, and with a very strong bullish candle too.

Well, it was expected as we had forecast the same earlier.

As we know price doesn't move in a linear fashion. There are waves & turbulences.

We could witness a pull back now. A retracement back to our support turned resistance in order for us to gain momentum for the upward thrust.

If price so does, then we start hunting for buy signals on the resistance. Be careful taking sell now though. Unless you are a good scalper and with well trained in the eyes as the train could take off anytime long without notice in that event.

Comment:

-Ok, We stumbled upon some resistance here. Maybe a bearish signal.

-Trying to take a sell?

-No problem. A sell taken at this price would be risky but it would be worth it if it gave a reward. So how do we go about it?

-We put a sell stop a few pips below the bearish doji with our stop loss a few pips above the bearish doji.

-What happens is, if our sentiments are right, our stop order will trigger and price continues downwards to our resistance level.
-Let's say our sell stop triggers but price don't go our way? Our stop loss will hit, stop the trade and we can go on buying the EUR.
But if we are right stop loss will never hit as price does not form a new high above the doji.
-Good luck.

Comment:

Oops. A new high has been created, instantly nullifying our sell orders.

As the gospel says, Higher highs equals to an uptrend, We hunt buys now