EUR/USD, my trade LIVE!
I will try to take this reversal at EUR/USD today. You can see the exact process of my entry, protection and how I see the furder development here. It’s not easy to trade this, let’s see how will ended? I will move my SL by steps as I have pointed in my chart, the first one is already done. These steps are resistance levels in my point of view, as well as the ‘Fibo stairs’ and if the buyers can’t brake them, the pair could return back! I have decided to enter long at 1.1170 based on the previous strong support level on the way up and protect my position only 20 pips bellow the support. After the pair reached 38.2 fibo I have moved my SL at the profitable teritory, but bellow the 23.6 fibo. I am using RR of 1:8 in this trade, but I must follow the move based on my predicted levels and adjust the profit (SL) higher, step by step as well. After and if the pair break 50.0 fibo, I will move my SL above the step 2. > step 3. after!
Update! > I have closed my EUR/USD long position above the 61.8 fibo return (3rd step), as I showed the 1.1280/300 level for the possible manual closing, but I would like to show you another reason for my long EUR/USD entry at the level which I showed in the first M30 chart. You can see in the USD index daily chart why I was sure in the possible retrace move. The resistance here was to strong and when I sow that the price is aproached here, that was an idication for me to search the level for long entry at the EUR/USD. I found it at the M30 EUR/USD chart and I took the trade. It was a great intra-day trade with RR 1:6 at the end! Let’s find an another opportunity. 😉