by Bradley B, June 2, 2021
by Bradley Burnett June 2, 2021
EUR/USD
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Long
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H1
Table of Contents
H1
Technical
EUR/USD has had a great bull run the last couple months. However, for the last two weeks bulls and bears have been holding their ground and we have been trading in a sideways channel on the higher time frames, 4hr, 1hr. Taking a position at historical demand at the bottom end of this side ways range. looking for move back towards top of the range or a break of the range to test new highs.
Entry @ 1.21683. Will use a 15 pip trailing stop once in the green.
20 pip SL @ 1.2148
Trading sideways markets are not my favorite trades, but I do think we have to trade the market we are given and adjust risk accordingly. Sense direction is not as clear as a trending market I’m trading with 60% of my normal position to help manage my risk. Also important to note that employment data for the US is coming out tomorrow and the Fed is going to be speaking on Friday. So if their is positive news for the US economy it could push the EUR/USD lower
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Trade is going great so far. Up over 15 pips now so this trade is either gonna be a big winner or a small winner.
Went ahead and sold half of position for a 33 pip profit. Going to let the trailing stop do its job now for the second half of the position. Hopefully we see a great run here.