EURUSD long 3.67RR
1. Downtrend Reversal: The price was initially in a downtrend, as indicated by the descending trendline.
2. Breakout Confirmation: The price broke above the 1-hour trendline, signaling a potential trend reversal.
3. Buy Limit Strategy: Instead of entering immediately, a buy limit order was placed at a key support zone after the breakout.
4. EMA 21 as Support: The price respected the 21 EMA, confirming bullish momentum.
Strong Bullish Move: After triggering the buy limit, the price surged upwards, resulting in a profitable trade.
5. Risk Management: Stop-loss was placed below a key support zone, minimizing risk while allowing room for price fluctuations.
2. Breakout Confirmation: The price broke above the 1-hour trendline, signaling a potential trend reversal.
3. Buy Limit Strategy: Instead of entering immediately, a buy limit order was placed at a key support zone after the breakout.
4. EMA 21 as Support: The price respected the 21 EMA, confirming bullish momentum.
Strong Bullish Move: After triggering the buy limit, the price surged upwards, resulting in a profitable trade.
5. Risk Management: Stop-loss was placed below a key support zone, minimizing risk while allowing room for price fluctuations.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.