I wanted to share 2 trades that setup in EURUSD this morning. I call these the “Back-test of the Level” trades.
Trade 1: After finally breaking through the 1.1250 level, the price comes and tests this area again (from the underside) before rejecting and moving lower. As our bias for the day (based on the Daily Bar analysis) was to the downside, this was a great trade setup to capitalize on. The trade paid over 100 pips.
Trade 2: On EUR 1.1200 is a psychological level of resistance. On first approach, the price bounces off of this level but comes down and breaks through the level with momentum (as can be seen by the big red candle through this level). The price stalls at this level for almost half an hour, with pins into the level before moving lower. The price went to 1.1134, giving us an opportunity to bank over 50 pips in this trade.
I find these trade setups multiple times a week. These are reliable trades to take and they pay out consistently.
This is one of my “Go To” trade strategies. I’ll be teaching this trade strategy as well as 2 other signature trade strategies in the “Learn to Trade Forex” course. We’ll also cover how to analyze the Daily candlestick bars to find the market direction for the following day. Click on the link below to learn more about the course and reserve your spot.
I am limiting the number of registrations for the course so I can give personal attention to everyone taking this course. Therefore, there are only limited seats available. Make sure you take this opportunity to reserve your spot.