EURUSD - Long Idea
1. Last week, the price broke the 1.07 level.
2. Now let's study the Monthly Chart. There is strong bullish momentum based on the fib retracements taken from the previous high. Seems like price is retracing back to the 50% level to test.
3. With that in mind, I would think we are only looking for long setups.
4. 1.065 seems like a juicy entry to get in a long before the price pushes to the monthly 50% fib retracement, as mentioned in item 2.
5. I would be looking for a push down to the 1.065 level and wait for the momentum to shift up again, before placing my long trade.
Forever yours,
The Profitable Trader from the Future
2. Now let's study the Monthly Chart. There is strong bullish momentum based on the fib retracements taken from the previous high. Seems like price is retracing back to the 50% level to test.
3. With that in mind, I would think we are only looking for long setups.
4. 1.065 seems like a juicy entry to get in a long before the price pushes to the monthly 50% fib retracement, as mentioned in item 2.
5. I would be looking for a push down to the 1.065 level and wait for the momentum to shift up again, before placing my long trade.
Forever yours,
The Profitable Trader from the Future
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