Here we take a look at the review of a live EURUSD intra-day trade taken today. EURUSD has dropped 780 points post US elections and price appeared to be leveling out since the opening of the current week. As supply and demand traders we are always on the lookout for opportunities after a major move in price.
From the above analysis, the break occurred at the support of the previous consolidation which is out of view to the left. A previous support turned into resistance briefly and a break occurred. Price rallied onwards towards the next area of supply before dropping back down for a retest of the new formed demand/support.
With the entry target established, it was only a patter of waiting for price to retract to our desired entry. This featured trade was opened at lunch time and closed after just before the end of the trading day at 60 pips. There was also a short trade made at the identified supply level which is not featured in this post.
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