Hey Traders so today was watching Euro it is in strong uptrend confirmed with my favorite 3 bar trendline. So normally best way to trade the trend is buy when it pulls back to the trendline. I like to use a candle that might hold support around 1.1457 but we also have strong high at 1.576
So aggressive entry would be to buy at that pullback 1.1457-1.1475 wide stop loss below support.
Conservative would be wait for break above that 1.576 high proving market wants to move higher then wait for it to come back and test that level again on pullback and buy at 1.576
If your bearish I don't think it's good to short right now with uptrend showing signs of strength. I would wait until market trades below trendline before considering taking bearish position.
Always use Risk Management!
(Just in case your wrong in your analysis most experts recommend never to risk more than 2% of your account equity on any given trade.)
Hope This Helps Your Trading 😃
Clifford
So aggressive entry would be to buy at that pullback 1.1457-1.1475 wide stop loss below support.
Conservative would be wait for break above that 1.576 high proving market wants to move higher then wait for it to come back and test that level again on pullback and buy at 1.576
If your bearish I don't think it's good to short right now with uptrend showing signs of strength. I would wait until market trades below trendline before considering taking bearish position.
Always use Risk Management!
(Just in case your wrong in your analysis most experts recommend never to risk more than 2% of your account equity on any given trade.)
Hope This Helps Your Trading 😃
Clifford
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.