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

EUR / USD declined sharply yesterday, all according to the plan we presented earlier . In fact, traders can continue setting up short positions, following this strategy:

Since the quotes have formed three wave patterns (ABC), in which wave A is the downward move during yesterday's trading, short positions may be opened from 61.8% and 50% Fibonacci. These transactions have risk/profit ratio of 2:1.

Of course, traders have to closely monitor the risks to avoid losing profit. Trading in this market is precarious, but is very profitable as long as you use the right approach.

Price Action and Stop Hunting were used for this trading strategy.

Good luck!