EURUSD: Buying Opportunity from Support Zone
מעודכן
The price has been moving sideways above 1.17550 support. We have range market conditions and we can buy from the support zone in order to sell at the local resistance.
MACD and RSI confirmed the price reversal. The same goes for a reversal candlestick pattern at the support. In order to make our risk/ reward ratio better, we should wait for a pullback and open long positions as close to the support as possible. It is possible to use the current price for buying as well, but in such a case it will be better to split the whole position size into 2 parts.
Here is an example of a long trade:
Buy above 1.17865
Stop below 1.17350
Profit Target at 1.18950
Risk per trade must be no more than 2% of the capital.
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
MACD and RSI confirmed the price reversal. The same goes for a reversal candlestick pattern at the support. In order to make our risk/ reward ratio better, we should wait for a pullback and open long positions as close to the support as possible. It is possible to use the current price for buying as well, but in such a case it will be better to split the whole position size into 2 parts.
Here is an example of a long trade:
Buy above 1.17865
Stop below 1.17350
Profit Target at 1.18950
Risk per trade must be no more than 2% of the capital.
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
הערה
It is possible to fix the part of the profit and move stop orders to the breakeven.
כתב ויתור
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