EUR/USD buy-stop entry, daily chart update
The first possible entry I posted yesterday was the high from yesterday (ask price plus 1 pip)
which got filled early this morning. The price was 1.1224 on our charts.
The last possible entry was the high from last Friday (also ask plus 1 pip)
which got filled a little while ago. (1.1290 on our charts)
I mentioned that the confirmation hook (first hook after the major formation) is often used by institutional traders with larger amounts of money. Therefore pressure in the trade direction is created and confirms the new trend direction.
Suggested exits are near 1.1450 or near 1.1550, which is the next cavity stop on the daily chart.
Long-term traders (signal I posted off the weekly chart last week) should keep an eye on the GAP at 1.2000 which is visible on the monthly chart as well.
"a little bit of knowledge is a dangerous thing"