FX.co ★ Tips for trading EUR/USD

Following a prolonged correction, EUR/USD rose in price during the Asian session today, breaking the bearish trend yesterday in favor of sellers' liquidity at the level of 1.10500.

Looking at the three-wave (ABC) pattern where wave "A" represents this morning's upward movement, maket players could open sell positions up to the 50% retracement level. Set stop-loss at 1.09500 and take-profit at the breakdown of 1.1020 and 1.11280.

This plan came from the framework of the Price Action and Stop Hunting strategies,

Good luck in trading and don't forget to control the risks! Have a nice day.