This week a Bullish Rejection Price Action Signal formed On EURUSD that we talked about, which is shown just below.
This signal formed with the trend and was in a great market hotspot buy zone. Traders who used the advanced entry methods from the Price Action Protocol would have grabbed a fast, easy +250 pips on this trade which worked out to be about 1:4 risk/return, or 400% on your investment.
This is why we love trading with price action, because it is so powerful and easy to execute. An indicator based system would have probably told you to buy into 2/3’s of the way through the move because of the lagging nature of indicator data.
If you haven’t made the switch to price action trading yet, we suggest you do so. If you’re not convinced, check out our Indicator Autopsy section.
Previous Discussion On This Setup
Looking at everyone’s favorite market today EURUSD, focusing our attention on a bullish signal which has manifested itself in an established uptrending environment.
The Price Action Protocol shows how this signal formed at a great ‘hot spot’ area for buying on the current chart dynamics. Mainly paying attention on how price has been respecting the trend mean, and the bullish tone to the candle close, closing above it’s open for the day.
This market is making the HH, HL low trending patterns, so this could be our chance to jump in with this trend and ride it to our risk reward target of 1:3.