After waiting patiently the EURUSD has retraced to the trendline and now formed a bullish engulfing bar, providing a good setup to enter long.
If you want to wait for a better entry, enter on a 50% retracement of the most recent 4hr candle, but there is a good chance price doesn't retrace back.
This trade will provide at least a 2:1 Reward:Risk, if things work out.
I'm placing a tight stop around 1.1124 - so if price does continue south, I'll be out quickly & wait again for another long opportunity.
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fxcoach.tv
If you want to wait for a better entry, enter on a 50% retracement of the most recent 4hr candle, but there is a good chance price doesn't retrace back.
This trade will provide at least a 2:1 Reward:Risk, if things work out.
I'm placing a tight stop around 1.1124 - so if price does continue south, I'll be out quickly & wait again for another long opportunity.
-----
fxcoach.tv
