FX.co ★ Trading tips for EUR/USD

After the strong rally last Friday caused by the massive sell-off of dollar to many instruments, quotes bounced back, opening new entry points to long positions.

Since a three-wave pattern (ABC) developed, where wave "A" represents the buying pressure from last Friday, traders can enter the market by taking long positions after a false breakdown of 0.98235. Stop loss could be set at 0.97, then exit the market above 0.99.

This trading idea is based on the "Price Action" and "Stop Hunting" methods.

Good luck and have a nice day! Don't forget to control the risks.