EUR/USD Trading Signal – LWC Bounce Off Upper Trendline And S&R Zone

Yesterday’s candle is a bounce off both an upper trendline and an upper S&R zone, so we have a great trading signal.

2016-02-11-eurusdecn

I’ll be entering on a break of the orange line (1.1265) with a stoploss at the red line (1.1400).

I would have liked to have the stoploss abvoe the S&R zone, but that just doesn’t give us enough of a risk:reward ratio.  But since this a double bounce it’s too good of a trade to pass up.

By |2016-10-21T21:03:03+00:00February 12th, 2016|EURUSD, Phil's Forex Blog|0 Comments
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