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07.12.202216:50 Forex Analysis & Reviews: Trading tips for EUR/USD

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EUR/USD formed a "double bottom" today during the European session. It is located at 1.0440, which is a good area for short positions.

And since there is a three-wave pattern (ABC) in which wave A represents the bearish pressure of the past two days, traders can enter the market by selling according to the scheme shown in the picture above. Set stop-loss at 1.05900 or at a false breakdown of 1.05350, then exit upon the breakdown of 1.04384.

This trading idea is based on the "Price Action" and "Stop Hunting" methods.

Good luck and have a nice day! Don't forget to control the risks.

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