EURUSD - Continuation of a strong trend?
EURUSD is in a clear uptrend, with the pair that doesn't seem to show any sign of counter-trend or strong retracement.
Recent action shows a slight retracement, with buyers immediately reacting with a bullish engulfing pattern and a new higher high.
Stop loss below last important swing low and trying to have it also below the uptrend line.
I don't really have a take profit in this situation, I just want to join the trend and see when we have some signs of sellers on the market.
For now, I place it in order to have 1:2 as risk to reward ratio, but I might increase it if I see that the trend still has good momentum.
Recent action shows a slight retracement, with buyers immediately reacting with a bullish engulfing pattern and a new higher high.
Stop loss below last important swing low and trying to have it also below the uptrend line.
I don't really have a take profit in this situation, I just want to join the trend and see when we have some signs of sellers on the market.
For now, I place it in order to have 1:2 as risk to reward ratio, but I might increase it if I see that the trend still has good momentum.
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