FX.co ★ Tips for trading EUR/USD

Following a strong buyback during yesterday's US session, EUR/USD retraced, providing excellent trading opportunities for long positions.

Taking into account the three-wave pattern (ABC), where wave A represents the movement seen yesterday, market players could sell the pair from the retracement area to the breakout area as indicated in the chart above. Set stop-loss at 1.08040 and take-profit at the breakout of 1.08600, 1.09000, 1.09335.

The trading idea 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.