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:
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?