Not sure about everyone else but this week has been a bit difficult for me and I hope my 40 followers will be patient with me in terms of my posts. I am still new to trading and only have been trading for a month so please patient and understand that this is still a learning process for me.
For this trade I will be listing why I believe it should be a great trade to long.
1.) In terms of this very volatile currency pair there is a great opportunity to possibly gain some huge profit for the following days to come. I think now would be a great time of entry for this trade and I do not see the problem with trying to long this trade. Looking at the big picture we can obviously see the strong support that EUR USD has been riding for a long period of time. No reason why it would not commit to an even further jump from the support.
2.) We can see that it has broken through a key resistance level and came right back down to a position where we can gain huge profit from. Usually with support and resistance if it does break through a potential resistance line and does a pull back we should strongly buy into the trade.
3.) My brother would always tell me about the 1 2 3 rule. If the trade has broken through the new resistance and it is on its way to touch the support line for the third time, it is a confirmed buy for huge profit.
Good luck to everyone out there and happy trading. I'll be reporting to you all next week.
Thank you to everyone who has supported me through this intense process and thank you for the 40 followers!
~JS
For this trade I will be listing why I believe it should be a great trade to long.
1.) In terms of this very volatile currency pair there is a great opportunity to possibly gain some huge profit for the following days to come. I think now would be a great time of entry for this trade and I do not see the problem with trying to long this trade. Looking at the big picture we can obviously see the strong support that EUR USD has been riding for a long period of time. No reason why it would not commit to an even further jump from the support.
2.) We can see that it has broken through a key resistance level and came right back down to a position where we can gain huge profit from. Usually with support and resistance if it does break through a potential resistance line and does a pull back we should strongly buy into the trade.
3.) My brother would always tell me about the 1 2 3 rule. If the trade has broken through the new resistance and it is on its way to touch the support line for the third time, it is a confirmed buy for huge profit.
Good luck to everyone out there and happy trading. I'll be reporting to you all next week.
Thank you to everyone who has supported me through this intense process and thank you for the 40 followers!
~JS