Euro Pin Bar + Intraday Double Bottom | July 15th
EURUSD – Forms Intraday Double Bottom off 1.3000
Yesterday in our weekly market commentary, I suggested buying EURUSD off the 1.3000 level. The pair intraday formed a double bottom and with trend pin bar off the 1.3000 level, going 8 pips past it, then shooting up higher +60 pips. Anyone buying this intraday price action pullback would be up well over 2R, with some students up 3R, so hopefully you have taken some profit off the board now. Short term the pair is in a larger range, but the double bottom rejection off 1.3000 suggests more upside. Expect a retest of 1.3187 soon, while a daily close below 1.2975 sets up 1.2900 and 1.2775.
Check out my latest articles on Rule Based Systems vs. Discretionary Systems Pt. 1, and some winning trades from our students over the last few weeks grabbing some excellent price action setups.
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