It’s time to cash the other level on EURUSD!
Last week we published a EURUSD trade opportunity for our blog readers. The blog presented one potential supply level and one demand level. The first trade that triggered after our post was on Supply level. We got out with our +45 pips. And now the pricing is approaching our second identified level which was Demand.
Buy at highlighted demand level. 1.11930 Click To Tweet
Take profit should be 50 pips. Lowest area where price found some support.
Stoploss needs to be at the other end of demand level i.e. about 35 pips away from your position.It's quiet common to get opportunities like these in forex trading Click To Tweet
i.e. first make profit by shorting a pair and next week by buying it. It’s not us who creates these levels. It’s the big boys. Banks, Governments, Industries, Speculators. Price reacts to an event, which results in these levels.
Now there are an average of 10 to 15 events happening per day, which effects the forex market. You can also call them News. Lots of sharp movements happen every day, on different pairs. But not all those movements are tradable in future. Because it’s all about a pattern. And we have identified our winning patterns. We do all of our trading based on those patterns. No guess work. No gamble. Just educated attempts.
No matter how strongly the price moved, no matter what the news outcome is or what other signal providers, news broadcasters are claiming. If our pattern isn’t there, we do not trade. And if our pattern is there….then why not 🙂