Good afternoon, dear traders! Congratulations to those who took advantage of our trading recommendation for the sale of EUR/USD according to PLAN1 and PLAN2.
It has long been noticed that breakdowns of strong levels occur precisely on the news. And it happened this time. Yesterday, after a disappointing performance by Christine Lagarde, the couple went on the storm of December lows, near which they traded for quite a long time. As I said yesterday in my VIDEO ARTICLE, the ECB press conference is always a “day of divorce” (false breakdowns). And this press conference was no exception. Let’s take a closer look.
Lagarde’s speech began at 13:30, and after 5 minutes we have a sharp false breakdown of the extreme day:
With short plans, this is a “gift of fate” for a short speculator! Well, for those who are going before the news, put a stop for the current extreme of the day – it’s a fiasco. In fact, this scenario is from the classics of the “hunt for feet” method, where the so-called “provocation” is the capture of stops from the opposite border of a local auction or daily extreme. In such cases, jumping into a trend is very cheap in terms of risks and very profitable in profit.
After capturing the upper border of the day, the EURUSD pair followed in the footsteps of more important levels of liquidity accumulation:
Where worked scenarios for the breakdown of the lower stop levels.
The pass was 600 p, but even if you took 500, you still get a good result!
Good luck in trading and a good weekend!
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
Performed by Andrey Shevchenko,
InstaForex Group © 2007-2020
Benefit from analysts’ recommendations right now
Top up trading account
Get a bonus from InstaForex
InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.