EURUSD Bullish Orderblock
After yesterday's disastrous CPI news, EURUSD tanked from the strengthening of the USD and we can see a PDL OB formed on the EURUSD.
Although it is a strong bearish trend on the intraday timeframe, I know that price doesnt go in one straight line direction and counter-trend moves are needed to build liquidity for the inevitable bearish move down.
Recognising that this is a counter-trend trade, I manage my risks and set the buy limits on 50% fulfillment of the PDL OB.
What ensues is a no frills and nothing fancy outcome of 4.14R
There is still a current M15 supply above so perhaps could have taken partials or held the trade longer but I want to start off the week on a positive note since this is a counter-trend trade as well.
Abbreviations :
PDL - Previous Day Low
OB - Order Block
Although it is a strong bearish trend on the intraday timeframe, I know that price doesnt go in one straight line direction and counter-trend moves are needed to build liquidity for the inevitable bearish move down.
Recognising that this is a counter-trend trade, I manage my risks and set the buy limits on 50% fulfillment of the PDL OB.
What ensues is a no frills and nothing fancy outcome of 4.14R
There is still a current M15 supply above so perhaps could have taken partials or held the trade longer but I want to start off the week on a positive note since this is a counter-trend trade as well.
Abbreviations :
PDL - Previous Day Low
OB - Order Block
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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.