EUR/USD Repeat Buy Long into Daily Uptrend
We have a repeat buy entry on the EU into the existing uptrend. The entry will also be above the weekly pivot level line (blue), which is bullish. Trade parameters are below:
Entry = 1.1369
Stop Loss = 1.1311
Profit Target = 1.1500 (Close to Weekly R1 Level)
Keep in mind that this is a momentum play. Do not enter the trade unless we have a momentum thrust above yesterday's high. The concept is to buy high (relative to a previous bars high) and sell higher. This is not a bottom picking strategy. Use a stop-limit order to enter the trade. If there is not enough momentum to take out yesterday's high we simply cancel the order. It is best to use a self canceling bracket order at your broker.
Entry = 1.1369
Stop Loss = 1.1311
Profit Target = 1.1500 (Close to Weekly R1 Level)
Keep in mind that this is a momentum play. Do not enter the trade unless we have a momentum thrust above yesterday's high. The concept is to buy high (relative to a previous bars high) and sell higher. This is not a bottom picking strategy. Use a stop-limit order to enter the trade. If there is not enough momentum to take out yesterday's high we simply cancel the order. It is best to use a self canceling bracket order at your broker.
Note
Profit Target Reached on 07/18/17. Congrats to all who followed the trade and made money. On to the next trade.
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.