Winning trade on EUR/USD

Jun 29, 2021

our EURUSD trade has hit take profit one today and has allowed us to place our stop loss at break even for a risk free trade. The reason for entry on this trade is that we have broken our higher timeframe uptrend and when we broke our weekly zone to the downside, this presented an opportunity to place a sell limit order at that zone for a nice 2/1 to previous low. Fundamentals that we get from brokers were also to the downside and if we take a look at the daily timeframe there are multiple pin bars to the downside suggesting that sellers have control. We are going to manage this trade closely with non farm payrolls coming out on Friday. We will either take all our profit at take profit 2 or move our stop loss to a nice level just in case that news sends this pair even more to the downside.