EURUSD's daily candle closed above the 5 EMA on Friday, August 11th. Therefore, I think it will close above the 5 EMA again.
I will use fibs and fib extensions for order placement. Fib extensions range betwwen -4.236 and 4.236.
Each fib line will contain 2 trades. One trade will have a 20 pip stop and a 60 pip take profit target. The second trade will have a 20 pip stop and no take profit. I plan to hold those with no take profit target for about 3 - 4 days.
Risk per trade is 0.5% of week beginning account balance.
Reward for each 60 pip take profit target is 1.5% of week beginning account balance.
I will use fibs and fib extensions for order placement. Fib extensions range betwwen -4.236 and 4.236.
Each fib line will contain 2 trades. One trade will have a 20 pip stop and a 60 pip take profit target. The second trade will have a 20 pip stop and no take profit. I plan to hold those with no take profit target for about 3 - 4 days.
Risk per trade is 0.5% of week beginning account balance.
Reward for each 60 pip take profit target is 1.5% of week beginning account balance.
Bullish signal on 30 minute chart.
Looking for bullish signals on 1 minute chart.