Hello Traders,
Yesterday the EURUSD showed very bullish momentum after the FOMC release. After the test of our resistance at 1.15154, price then entered into a corrective phase.
Resistances: 1.14832, 1.15154, 1.15402
Supports: 1.14413, 1.13951
We are now testing previous market structure at the support 1.14413 where we expect a rebound and a continuation of our trend.
I set a BUY LIMIT order above the support 1.144 and set the SL below the next support at 1.13951. TP is set at the resistance at 1.15402. See the arrows for my graphical projection.
Entry: BUY LIMIT 1.14457
SL: 1.13851
TP: 1.15327
Trade characteristics: Trend continuation with limit entry on a pullback
Expected trade duration: 1-3 days
Risk-to-Reward-Ratio: 1.43
Any Likes or Opinions in the comment section are appreciated. I also post regularly, so if you like my content, make sure to follow me. :)
Yesterday the EURUSD showed very bullish momentum after the FOMC release. After the test of our resistance at 1.15154, price then entered into a corrective phase.
Resistances: 1.14832, 1.15154, 1.15402
Supports: 1.14413, 1.13951
We are now testing previous market structure at the support 1.14413 where we expect a rebound and a continuation of our trend.
I set a BUY LIMIT order above the support 1.144 and set the SL below the next support at 1.13951. TP is set at the resistance at 1.15402. See the arrows for my graphical projection.
Entry: BUY LIMIT 1.14457
SL: 1.13851
TP: 1.15327
Trade characteristics: Trend continuation with limit entry on a pullback
Expected trade duration: 1-3 days
Risk-to-Reward-Ratio: 1.43
Any Likes or Opinions in the comment section are appreciated. I also post regularly, so if you like my content, make sure to follow me. :)