EURUSD Trading with the trend : The pair remained in a lower low/lower high sequence this past trading week (Jan.19/2020-Jan.24/2020) meaning EURUSD was still in a down trend. On January 18/2020 I published this article on > EURUSD : Selling the Breakout Lower explaining the pair was in a LL/LH sequence lower. Traders should always trade with the trend and not against it, so as long as the pair did not break the LL/LH sequence, traders should have continued selling the pair with the trend.
On January 22/2020 I posted on social media (Stocktwits/Twitter) @AidanFX that selling EURUSD was the right side to trade.
EURUSD 1 Hour Chart 1.22.2020 : Posted on social media the chart where I entered my selling positions. In the chart below, the lower low/lower high sequence was still active and stops were placed at the previous lower high.
EURUSD 1 Hour Chart 1.23.2020 : In the chart below, price respects the moving average (green) and reacts with a move lower confirming that the down trend was still active. Note both the light blue and green moving averages are in a down slope indicating more downside.
EURUSD 1 Hour Chart 1.24.2020 : The pair continued lower and HIT the 1:1 RR Target (1st entry) and the 1:2 RR Target (2nd entry) where I took profits. If you followed me on Twitter/Stocktwits you too could have caught the EURUSD move lower.
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 Twitter for updates and questions> @AidanFX or chat me on Skype > EWF Aidan Chan
*** Always use proper risk/money management according to your account size ***
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