EUR/USD Trade Signal – Bounce off lower trendline

We have a bounce off a lower trendline.

2016-02-24-eurusdecn

We have plenty of room for a nice risk:reward ratio on this one, so I’m placing my stoploss under the lower S&R zone.

My stop is at the red line (1.0768) and my entry is at the orange line (1.10708).

This trade has a 300 pip stoploss, but there’s plenty of room for profit, since we’re trading with the trend and it’ll be 400 pips up to the trendline by the time price get’s there.

2016-02-24-eurusdecn-1

By |2016-10-21T21:01:37+00:00February 25th, 2016|EURUSD, Phil's Forex Blog|0 Comments
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