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| Figure 1 - Setup identified | Figure 2 - Two mins later Setup is at Entry point | |
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| Figure 3 - Seven mins later and price level at Target Exit | ||
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EUR/USD Bounce Trade Explained
The EUR/USD Grid in Figure 1 identifies a Bounce Trade Sell Pattern.
If you look Figure 4, It is showing that the 1 min chart shows a long move up from 1.3183 and is continuing with a strong movement upwards most likely reaching 1.3225+... so why is this a sell grid?
There is no doubt that the price will reach a peak and there will no doubt be a
retracement (price coming back down - before possibly continuing to go up again)
Identifying the Setup
So how do we find this point? Using the EUR/USD Grid in Figure 1 you can identify a clear level of resistance level across 4 time lanes - 3 Fibonacci color band overlays in the 1, 5 and 15 min time lanes (shown by the numbers and different shades of blue) and it also has one 60min L1 MA Red Box
where the price is likely to bounce from. You can see that this is likely to re-occur as it has happened earlier in Figure 5 (price bounced off the L1 MA (Green Box).
Using the Grid and the 1 and 60min charts in conjunction we have identified a sell grid. Now to check off the criteria...
Figure 4 - EUR/USD 1 min Price action

Figure 5 - EUR/USD 60 Min Price Action

Yes, it meets all the Criteria:
Price Action Approaching Entry Point
Just two minutes after the Screenshot from Figure 1 was taken, Figure 2 Shows that the price is hitting the 60min L1 MA Red Box and is likely to bounce off this level. You should Sell EUR/USD as it seems way overbought and the price action undoubtedly respects this identified level of resistance and starts to move back down for a retracement. The retracement is likely to continue back to the 1min L1 MA Green Box.
Price Action Approaching Exit Point
Another Seven minutes after the Screenshot from Figure 2 was taken, Figure 3 Shows that the price has passed the 1min L1 MA Red Box because our set target was the 1.3207 L1 MA Green Box shown on the Grid in Figure 1. Therefore now as we have approached 1.3207 and come further down now it is good time to exit as there is now also a 5min L1 MA Green Box approaching and it can act as a Support where the price may bounce off this before it continues to retrace anymore (therefore to lock in guaranteed profits you will exit at this level).
The Outcome
This Trade was taken live by An FXMM Trader, who achieved the following
outcome...

Entry: Sold EUR/USD @ 1.3225
Exit:: Bought Back @ 1.3206
Size: 2x Standard Lots
Profit /Loss in Pips: +18 pips on
2x Std Lots (effectively 36 pips)
Profit /Loss in Monetary Value: $360
Trade Duration: 9 Minutes 04 seconds
The Results
See For yourself this trade and more examples from our other Forex Trading
Strategies are available below in video format. Results from more trades using the FXMM trading Patterns really work. We publish live updating Trading History via Trading Statements and Trading Log Links
to show the profit/loss for our Forex Trading Strategies that we trade everyday,
see below...
See Official Trading Statement
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Trades Log

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