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10d ago in General discussion
馃敂 EUR/USD Trade Signal - Capture Profits in Both Directions 馃敂
Pair: EUR/USD
Current Price: 1.0800
Trade Direction: Sell initially, switch to buy on reversal if key levels hold
馃搲 Trade Strategy & Analysis: We鈥檙e setting up to trade EUR/USD with a plan to capture profits in both directions based on key support and resistance levels.
Key Levels:
  • Support: 1.0700 - A significant support level that could either lead to a continuation in bearish momentum or a potential bounce.
  • Resistance: 1.0850 - Ideal for placing a stop above if in a sell position.
Trade Setup:
1. Initial Sell to Target 1.0700:
  • Sell Entry: Short around 1.0800, or wait for confirmation below 1.0780.
  • Stop Loss: Above 1.0850 to manage risk.
  • Take Profit: Target 1.0700 for the initial move. This is our first profit target, as it鈥檚 a strong support level.
2. Plan for Continuation if 1.0700 Breaks:
  • If Price Pushes Below 1.0700: Continue selling or add to the short position.
  • Extended Target: 1.0500 for a deeper move down. This allows us to capture additional profits if bearish momentum strengthens.
3. Reversal Plan if 1.0700 Holds:
  • Watch for a Reversal Signal: If 1.0700 holds and we see bullish reversal patterns (e.g., bullish engulfing, hammer), consider closing the sell.
  • Switch to Buy: Enter a buy position to capitalize on a bounce from 1.0700, targeting 1.0850 or higher.
  • Stop Loss on Buy: Place stop just below the low of the reversal pattern to minimize risk.
Summary:
  • Initial Sell: Target 1.0700 for a quick capture of bearish movement.
  • Sell Continuation: If 1.0700 breaks, continue holding or add to the sell with a target of 1.0500.
  • Switch to Buy on Reversal: If 1.0700 holds and shows signs of reversal, go long with a target back toward 1.0850.
鈿狅笍 Risk Management: Always use proper position sizing and respect your stop levels. This strategy allows you to profit whether EUR/USD breaks lower or reverses at support.
Stay flexible and trade smart. Let鈥檚 take advantage of what EUR/USD offers! 馃搲馃搱
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1 comment
Joseph Landmark
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馃敂 EUR/USD Trade Signal - Capture Profits in Both Directions 馃敂
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