Long Opportunities on EURUSD

Jul 21

If you are looking to long EURUSD just like me, the 4-hourly chart presents a promising Bullish Shark buying opportunity. Here's how we can approach it:

Bullish Shark Pattern:
- Pattern Completion Level: 1.0820
- Strategy: Wait for a Magic Candle Confirmation at 1.0820 before entering a long position.
- Stop-Loss: Place a stop-loss just below the pattern completion level.

Support and Resistance Level:
- Support Level: 1.0864
- Strategy: Look for a buying opportunity at this support level.
- Stop-Loss: Place a stop-loss just below the support.
- Target: Target 1 at Previous High.

Key Points:
- Bullish Shark Pattern: Provides a technical setup for a long position with a specific entry and confirmation point.
- Support and Resistance: Offers a simpler approach for traders looking for straightforward support and resistance trades.
- Risk Management: Ensure proper stop-loss placement to manage risk effectively.
- Confirmation: Always wait for the Magic Candle Confirmation before entering trades based on the Bullish Shark pattern.

These setups provide clear entry and exit points for long positions on EURUSD.

What’s your take on these strategies? Do you have other approaches that work for you?

Share your thoughts and strategies below!