FX.co ★ Trading idea for EUR/USD

EUR / USD has formed two interesting levels, behind which, in our opinion, risks can accumulate.

These are: 1.19900 (mirror level) and 1.19000 (good level for opening long positions as it is located between the double bottom that formed last Friday and yesterday).

Taking this into account, players could set-off a price increase by doing this strategy:

Open buy positions in the market, and then work for a false breakout at 1.19.

In the false breakout zone, toil for small movements to complete an ABC wave pattern, as shown in the picture above.

Movement should start with a rollback, and end when the quote reaches the limit.

Of course, traders should remember to be careful to avoid losing money. Trading is very precarious, but profitable as long as you use the correct approach.

The plan above follows the classic Price Action and Stop Hunting methods.

Good luck!