After the fall we saw eurusd make, we patiently waited to see what the market would do. Now the stars are aligning for a buy position. We are seeing the drop back to resistance and we wait for the retest to enter. This does not mean it can’t still drop. We are waiting patiently for all confluences to be met before we enter. Perhaps a bullish engulfing. We need strong momentum to enter
Trade active:
Buy entry was taken. This one looks promising but there is some mixed momentum. Proceed with caution. It is respecting the support line beautifully.
Comment:
We are still in this trade! It made a higher low and is continuing strong.
Trade closed manually:
I secured 40 pips. There is so much selling pressure I went ahead and closed it. Long term I am no longer bullish. I believed it would test at least resistance but I moved up my stop to 30 pips and I just closed it out. If anyone is still in you can ride it but it’s better to secure profits. We can ride the next wave. No worries here.