This is what I’m going to do with the EURUSD

Are you trading the EURUSD? If you are, take a look at this and see if you agree with me.

So here is my plan…

I’m basically waiting for the EURUSD to break either extreme of the range, if it breaks the top of the range I’ll start looking for long opportunities, and if it breaks the bottom of the range I’ll look for short opportunities.

However, I’m also open to trade inside the range. So if it gets rejected from the top of the range (upper green level) I’ll also go short likewise, if it gets rejected from the bottom of the range I’ll go long.

What do you think of my plan?

Let me know in the comment section.

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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 .

  • gracien

    Dear Raul,
    I forsee more probability for upside breakout now that the debt issues of the Euro-zone is taking shape than the downside.  But at the same time their numbers are also not too promising and it may occur from either direction.  But if I should ask, you look for more long opportunities than you explore for short, is there any strategy working against short that I need to know?

    Orah Tony 

    • Raul Lopez

      Hey Tony… Thanks for your input. 

      I don take fundamentals into account though, I just use technical analysis: “All information availabe (including those of the fundamentals) are present in the charts…”

      Cheers

  • Ganang Prastia

    Hi Raul
    If it gets rejected from upper green, can it break other levels (Pivot Point, HOPS1, LOPS1, LOPS2) easily to go to bottom green?

    • Raul Lopez

      Hey there… I guess it can do it. If it gets rejected from the top of the range (upper green level) I’ll go short and will take profits around the bottom of the range (lower green level). 

      Cheers,

      • Ganang Prastia

        Thank for your reply Raul,
        and I want to ask, if it break upper green, where is next resistance target?

        • Raul Lopez

          The next resistance level is at 1.3382

          • Ganang Prastia

            Now it breaks upper green, right? And you think it is going to 250 points away. I followed your long signal on NZDUSD and now follow long position on EURUSD. Thank you Raul.

          • Raul Lopez

            Good luck!