On May 13 2024 I posted on social media @AidanFX the EURUSD BUY setup chart. The pair was in an uptrend and was trading in a range zone with 1 hour and 4 hour demand/buy zones below the equilibrium level. Chart illustrated for traders to wait for price to tap these zones before squeezing the buy trigger.
EURUSD 15 Minute Chart May 13 2024 (Setup)
EURUSD 15 Minute Chart May 14 2024 (Entry)
EURUSD 15 Minute Chart May 14 2024 (Targets HIT / Trade Closed)
Entered the BUY trade May 14 2024 at 1.0770 with stop loss at 1.0759. EURUSD moved higher to the proposed targets. On May 14 2024 1:4RR target at 1.0814 hits and is where I closed the buy trade for a +4% gain (Risking 1% on every trade).
A trader should always have multiple strategies all lined up before entering a trade. Never trade off one simple strategy. When multiple strategies all line up it allows a trader to see a clearer trade setup. If you followed me on social media you too could have caught the EURUSD move higher.
Of course, like any strategy/technique, there will be times when the strategy/technique fails so proper money/risk management should always be used on every trade. Hope you enjoyed this article and follow me on social media for updates and questions> @AidanFX
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