Tradingwithtamil

EURUSD: RECOVERING FROM DOWN- BULLISH

Short
FX:EURUSD   Euro / U.S. Dollar
In the chart, there was a volume accumulation area from which strong buying activity started.

In that, the price range moved away from the downtrend. The signals stabilizing itself from the fall.

By the previous mark, the market recovering from the downtrend. For a long, while it moved in a particular trend.

In 4 hr time scale, the market broke resistance trend line and stays at 1.18197. (shown in the graph)

Here we have a chance for two moves:

By the impact of breakout impulse, it may move directly to the target.

or else, it will lead to a small correction to the previous high level and a pullback to top.

If direct hit means, the signal will rose up to the last high point.

If correction means, it will move gradually to the last high on resistance trend line and to the target.

Otherwise, end the trade at next low 1.17209 it won't a loss for you.

wait for the price move and determine the trade.

SIGNAL SPECIFICATION:

Pair: EURUSD

Order: BUY

Entry: 1.18197

Take profit: 1.19798

Stop loss: 1.17209

Risk Vs Reward: 1.62
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Note:
Trade signals would usually have a risk to reward ratio of 1:2.
It means that, even 2 out of 4 signals hits their SL marks, the other two would have closed with profit.
This allow you to be good in overall pips profit.
Signals are usually inter-day (Based on the daily candle) therefore, trades would usually have a holding time of an average minimum of 24 hours.

Note: Everything works with Best money management.

Note: Please leave comments for any query.

Disclaimer: This is my trading experience, it is not an invite or recommendation to trade.

Best
Forextamil
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Trade closed: stop reached: SOMETIMES WE DON'T KNOW THE POWER OF FUNDAMENTAL NEWS.

Stop loss hit.

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