FX.co ★ Trading idea for EUR/USD

Euro closed with a pin bar last Friday.

As a result, an excellent opportunity to buy in the market was obtained, especially since there is now a decent target for trading: sellers' stops for the last three trading days:

Considering this, bullish traders can trigger a rebound, provided that they follow this strategy:

Since a three-wave pattern was developed, in which wave A represents the buying pressure last Friday, traders can open long positions aimed at setting off a 50% pullback from 1.21. Place stop loss at 1.20800, and then take profit as soon as the quote breaks down 1.21500.

This trading idea follows Price Action and Stop Hunting methods.

Good luck and have a nice trading day!