empty
 
 
17.05.2021 02:16 PM
Trading idea for EUR/USD

This image is no longer relevant

Euro closed with a pin bar last Friday.

This image is no longer relevant

As a result, an excellent opportunity to buy in the market was obtained, especially since there is now a decent target for trading: sellers' stops for the last three trading days:

This image is no longer relevant

Considering this, bullish traders can trigger a rebound, provided that they follow this strategy:

This image is no longer relevant

Since a three-wave pattern was developed, in which wave A represents the buying pressure last Friday, traders can open long positions aimed at setting off a 50% pullback from 1.21. Place stop loss at 1.20800, and then take profit as soon as the quote breaks down 1.21500.

This trading idea follows Price Action and Stop Hunting methods.

Good luck and have a nice trading day!

Andrey Shevchenko,
Analytical expert of InstaForex
© 2007-2024
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $1000 more!
    In April we raffle $1000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback