Price Action Trading - Trade 1
Updated
EURUSD: Follow the Trend because Trend is your friend.
After the Breakout of 1.19000 Resistance Level price is staying above MA20 which shows bulls are in strength.
In this market structure MA20 could become a dynamic support.
My idea is to place a buy order when price approaches MA20 on H1 chart.
Risk Reward : 1:2
After the Breakout of 1.19000 Resistance Level price is staying above MA20 which shows bulls are in strength.
In this market structure MA20 could become a dynamic support.
My idea is to place a buy order when price approaches MA20 on H1 chart.
Risk Reward : 1:2
Note
As we can see a build up on MA20 now which means as a support MA20 is getting weaker.If price breaks MA20 downwards we will wait for the price to re-test previous resistance level at 1.19000.
We will enter in the market with more buying at 1.19000 after confirmation of price rejection on the level.
Make sure you work out your risk as 1% on capital.
Note: Always divide your lot size by 3 so you can enter in the market at three different positions to maximise the profits.
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