EURUSD LONG HIGH RISK - BULLISH CLOSE ON DAILY @ TRENDLINE
Updated
Hey traders, price has reached the the trendline for this upward impulse by the EURUSD the past couple of weeks.
The long term trend of EURUSD is downwards, so this still represents a counter trend trade. The risk is very high, but thats why it's balanced through a 1:3 risk to reward ratio.
The probability of this trade is definitely lower. A 25% winrate or higher on these types of trades will net profit.
Don't think about trades individually but as a set. In the long run with these setups and good risk:reward the results should show.
I have included where my bias would turn short as well if price falls below the trend line.
Daily trade analysis and ideas:
Telegram: t.me/Forexdojo
Facebook: facebook.com/FXShinobi
Twitter: forex_dojo
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ForexShinobi
The long term trend of EURUSD is downwards, so this still represents a counter trend trade. The risk is very high, but thats why it's balanced through a 1:3 risk to reward ratio.
The probability of this trade is definitely lower. A 25% winrate or higher on these types of trades will net profit.
Don't think about trades individually but as a set. In the long run with these setups and good risk:reward the results should show.
I have included where my bias would turn short as well if price falls below the trend line.
Daily trade analysis and ideas:
Telegram: t.me/Forexdojo
Facebook: facebook.com/FXShinobi
Twitter: forex_dojo
Instagram: instagram.com/jaylen.forex/
Website: forexshinobi.com
Tiktok: Forexshinobi
ForexShinobi
Note
Sellers tried to push price down but failed to do so. Strong bullish close on the daily, buyers look to be in control.Trade closed: target reached
Target about to be reached, do not hesitate to secure profits now.
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