An old familiar “W” pattern emerged on the EUR and after a very bullish candle – taking out the four previous candles… a long setup is entered. The risk was 16 pips for 83 pips to our Target 2. Price moved up and briefly paused in the middle of its Asian range before moving higher. As price got above the Asian high, we locked in profits. After a very long upper wick formed indicating sellers were entering we closed the trade.
Good luck with your trading!