EURUSD Intraday Bullish Setup Update And Follow Up

Hi Traders! EURUSD intraday bullish setup update and follow up is here. On March 31st I shared this “EURUSD Intraday Bullish Setup” post in trading view. In this post, let’s do a recap of this setup and see how it has developed now. If you would like to learn more about the way we trade and the technical analysis we use then check out the Traders Academy Club. Spoiler alert – free memberships are available!

My Idea

 

 

EURUSD H4(4 Hours) Chart Current Scenario

Based on the above mentioned analysis my view was bullish here and I was expecting the price to move higher further in the short term until the key support zone holds. The price action followed my analysis as I expected it to. The price respected the key support zone and moved higher further providing 140+ pips move so far.

On the M15 chart, the market provided us with various facts supporting the bullish view. After bouncing from the key support zone on the H4 chart, we had a pullback on the M15 chart with the price creating a bullish divergence between the first low that has formed at 1.17192 and the second low that has formed at 1.17123 based on the MACD indicator. The price then moved higher and broke above the most recent downtrend line, we may consider these as facts provided by the market supporting the bullish view. Then as you can see in the image below how the price moved higher after that.

(Note: You can learn about a Killer Forex Strategy “Double Trend Line Principle” here)

As traders we always have two choices, the first one is to fall in love with our analysis and try to convince the market and expect the price to move in the direction as per our wish. The second one is to follow the facts that the market provides us and make the right actions according to that. As you know the first option won’t help us and as you can see in the example above what happened when we followed the facts that the market hinted us and took the right action according to that.

For similar trade ideas and much more join the Traders Academy Club and get access to our complete watch list and trade report. 

This is how the report looks like. A table with the hottest market opportunities, screenshot behind every pair and time frame (anything that is in blue inside the table is clickable and leads to a screenshot) + a summary in text format, kind of highlights. And of course, Live Market Analysis every single day.

 

If you have any further questions, don’t hesitate to drop a comment below!

 

To your success,

Vladimir Ribakov
Certified Financial Technician

 

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