FX.co ★ Trading idea for the EUR/USD pair

A false breakout occurred at 1.1500, which resulted in a bullish pin bar on the EUR / USD daily chart.

Such suggests that the pair will trade upwards in the market, and you can get profit from it by following this strategy below:

Using Elliott Wave Theory, set the earlier bullish impulse as wave "A" and work for an increase from the Fibonacci retracement levels shown in the chart above.

This is in line with the classic Price Action and Stop Hunting strategies, and promises quite good profit, about 2:1.

Of course, controlling the risks is necessary to avoid reducing or losing profit.

Good luck!