8th of March 2021 Identify, plan and trade: It's important w | Blueberry Markets

8th of March 2021

Identify, plan and trade:

It's important when looking for a trade to follow a strict plan.

IDENTIFY: We have identified EURUSD in line with our trend strategy.

PLAN: The EURUSD price continues to trend lower on the 4hr timeframe and this looks likely to continue this week under the current circumstances. We are looking for the price to re-test the previous swing lows as resistance before continuing the trend.

TRADE: We will place a SELL LIMIT order at the resistance low with stops above the highs. If this trade does not trigger by the end of the trading day cancel the order.