The beauty of having a trading plan – EURUSD looking for shorts

Last week I showed you my trading plan in the EURUSD, back then it was trading in a short term range, so I was looking for short opportunities around the top of the range and long opportunities around the bottom of the range.

But I also mentioned that in the case of a breakout, I’ll adjust my strategy and look for trade opportunities in the direction of the break out.

Well, that time has come. Here is the chart:

EURUSD Trading plan

Earlier today, the EURUSD broke the bottom of the range. So here is my plan:

As long as it trades below 1.2822 I’ll be looking for short opportunities.

By the way, I think we’ll see a retracement to that level (we are currently trading at 1.2787), but we’ll see.

You know what the beauty about this is:

I don’t have to guess where the market is heading, I just follow it.

What do you think?

Cheers,

EURUSD Analysis, trading plan


Raul Lopez

I've been trading the markets for more than 15 years. I believe the best way to trade is by adapting to the market conditions. You can learn it too, join our community .