Live EUR/USD Trade Setups – Day Trading Market Manipulation
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Yesterday we had a couple nice trade setups on the EUR/USD. The first short setup from above the London highs made a beautiful run to the downside that was helped by some bearish comments from the Euro zone. Tape bombs are a double edged sword. I got burned last week for -20 pips when the Feds Bullard came blurted out an unexpected dollar bearish comment on QE. Anyway, the second trade setup during NY was another quality reversal day trade. The second setup was a typical NY reversal where the market is extended past the ADR and comes into a pre-selected manipulation point. Both trade setups illustrate classic stop run confirmation entries. Another major point is the significance of risk/reward ratios when it comes to becoming a profitable trader.
-Sterling