EUR/USD Daily
Long or Short: Long
Entry Point: 1.3250 (A few pips below market)
Stop Loss: 1.3150
Profit Target/s: Top of the Bollinger bands (Depends)
Reward-to-risk Ratio: Varies.
Risk percentage: 2% only (you can reduce this since there is a chance that the move down yesterday was a reversal and not a retracement)
Indicators: 100 EMA, 20-period Bollinger Band with SD of 2
Trade Rationale:
I don’t normally do position trades but I thought I’d share this. The technical setup is very nice. As you can see, there’s a confluence of two major indicators - the Bollinger Band and the 100 EMA. Also note that 1.3300 is being tested. If this holds, we could see the pair skyrocket.