EURUSD Long setup

See callout bubbles. Big-time EUR and USD event risk coming up the next two days, so I am only buying/selling at the 'edges.' We should see some nice price movement. Here is a possible place to jump in Long on the EUR against the USD. I want to see price drop down into the zone and make a nice bound out. No targets yet. I want to see where the sellers are before choosing my targets.

Comentário:

NFP's tomorrow. I want to see a quick drop in price into our demand zone (maybe overnight or on the news release) and then I want to see price reverse to the upside.

For what its worth, EUR sentiment, according to DailyFX, is still showing most traders Short EURUSD. This would tell me to be on the buying side.

Trade ativo:

We got the bounce that we expected from Friday's NFP's. Took profit at around 1.1790. Moved stop to breakeven. Will continue to move stop up as the market prints new areas that would be good for a stop-loss.

Always measure your risk and be okay with being wrong ; )