Long

EURUSD | Ursula aint having it | 1 long scenario

Updated

EURUSD recently took out a S/R level (S/R Level 1) (yellow circle). The level is based on the monthly chart and is also the bottom of a range that was generated before the last downtrend stopped.

Scenario (Orange arrow)
I will take a long if my requirements are met.
Requirements: Price manages to break above S/R Level 2.
Entry: Daily close above S/R Level 2
Invalidation: Price doenst go above S/R Level 2
S-L: After retake of the S/R Level 2 price falls back below it and atleast 2 daily candles closes below
Target: Lower green line (Currently a resistance level which facilitated the current downtrend)

Good luck

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Note

Price moved above S/R Level 2. Lets see if we get a daily close there

Note

Daily close above S/R Level 2. What i dont like is how far price went up from a R:R point of view. I will only enter if price falls goes a bit lower but still stays above S/R Level 2.

Trade active

Note

Price close to target

Trade closed: target reached

Note

Will be uploading soon another trade for EURUSD

a_tale_of_bulls_and_bears

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