EURUSD Long - Order Block Analysis
Updated
EURUSD Long - Order Block Analysis
Entry: 1.12724 - 1.12974
The pullback provides a good risk-to-reward ratio to enter longs inside the abovementioned order block. I've already entered a small position in case EURUSD starts bouncing here.
Stop loss: 1.12437
If the order block fails to hold, it would mean that the last bullish impulse was simply a fake-out. This provides us with a clear invalidation level. Therefore, we can place our stop loss in the area below this order block.
Targets: 1.14358 (TP1) & 1.15619 (TP2)
The bearish order blocks above give us clear targets to hit.
This idea is for educational purposes only. Please always exercise proper risk management.
Good luck!
- EURUSD broke out of its 7-week-long consolidation range.
- The bullish impulse resulted in a daily order block (1.12724 - 1.12974), where we can potentially layer in limit long orders.
- In confluence with our recent DXY short idea posted on 16 Jan 2022.
Entry: 1.12724 - 1.12974
The pullback provides a good risk-to-reward ratio to enter longs inside the abovementioned order block. I've already entered a small position in case EURUSD starts bouncing here.
Stop loss: 1.12437
If the order block fails to hold, it would mean that the last bullish impulse was simply a fake-out. This provides us with a clear invalidation level. Therefore, we can place our stop loss in the area below this order block.
Targets: 1.14358 (TP1) & 1.15619 (TP2)
The bearish order blocks above give us clear targets to hit.
This idea is for educational purposes only. Please always exercise proper risk management.
Good luck!
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Trade closed: stop reached
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