Trade of the Week: EUR/USD H1: 19-20 May: +3% Profit (+145 pips)
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This is a contre-trend trade. On H4, a cycle of 5 waves has been completed, the price is already below the fractal box. We are looking for an entry on H1, at Francfort open the 19th, we have second break entry while the stop loss above the box is at 45 pips, the price drops at London Open and we exit the next day, after the divergence, when the price breaks the upper level of the box for +3% profit (+145 pips)
For more details and examples of trade, click "Examples of Trade" in the menu
This is a contre-trend trade. On H4, a cycle of 5 waves has been completed, the price is already below the fractal box. We are looking for an entry on H1, at Francfort open the 19th, we have second break entry while the stop loss above the box is at 45 pips, the price drops at London Open and we exit the next day, after the divergence, when the price breaks the upper level of the box for +3% profit (+145 pips)
EUR/USD is moving upwards, but is not having any clear trend, so that’s something which makes things harder to decide up, I believe we should trade with careful approach instead of doing anything silly. I always like to go with long term trades and it helps me big time to work it with OctaFX broker, as they are one of the best companies with having excellent swap free account, it’s seriously beneficial especially for long term trades and I am able to work nicely.
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