Trading Conditions
Products
Tools
Euro finally declined after an almost two weeks rally.
Considering this, traders may enter the market by opening short positions in EUR / USD.
In fact, since a three-wave pattern (ABC) was formed in the trading chart, wherein wave A is the selling pressure yesterday, players can start selling the euro in order to trigger a 50% pullback from 1.22100-1.22200. Place stop loss at 1.22500, and then take profit on the breakdown of 1.21600.
The plan above follows the Price Action and Stop Hunting methods.
Good luck and have a nice trading day!
InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.