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

EUR / USD closed with a pin bar yesterday, as a result of which, a good area has been determined, where traders could open short positions in the market.

Lately, most of the American sessions closed negatively, indicating that traders are buying up US dollars. The price movements yesterday confirm this scenario.

In that regard, it is best to short the EUR / USD pair, following this strategy:

Since the quotes have formed three wave patterns (ABC), in which wave A is the movement observed yesterday, open short positions in the market, the risk of which is at 20-30 pips, while the profit is at 50 pips.

Of course, traders have to monitor the risk to avoid losing money. Trading is very precarious, but also profitable as long as the right approach is used.

The above strategy uses Price Action and Stop Hunting as bases.

Good luck!