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EURUSD Trading Setup

Posted on Sep 19th, 2016

by colibritrader

EURUSD Trading Setup

It is a very big week for central banks. RBZ, BOJ, FOMC are the meeting to take place this week. FED fund futures are pricing just a 20% chance of raising rates. One way or another- big week!

by: Colibri Trader

The trading setup from last time has betrayed us. Unfortunately, part of trading is having sporting loses and that is what makes it even more exciting. Have a look at my article on learning how to win by learning how to lose HERE. I am still looking at DAX as a buy, but for the time being will stay aside. Prefer to see it settle down before taking additional risks. I believe this might be a fake breakout, but let see what the future will reveal. And by the way, have a look at my other article on why trading breakouts might be risky HERE.

EURUSD Trading Setup

EURUSD Trading setup is today’s trading idea. I am seeing hesitance in the form of an inside day daily candlestick. Combined with the support level it formed on, this gives me bullish expectations. I will be looking for the pair going slightly lower before taking a long position. A good place for me to enter in a long trade would be 1.1175. My stop loss would be placed just under 1.1120. My first target is the level of 1.1300. My secondary target is at 1.1600.

Happy Trading,

Colibri Trader

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