Short Term Profits

Last week we were looking for longs on EU and we took a trade last week as planned from demand identified on the H1 chart. I'm going to share that trade with you here.

EU - Long

Price bounced from daily demand with momentum and a H1 demand level formed during the initial move. Once this happened the level was marked pending a return. Price returned with red candles only so we waited for an entry signal. Rather than opt for the usual engulf signal for an entry, I've revisited the over under pattern which also works well. Price closed over an extreme (a low in this case) then closed above with momentum. The initial low was tested then price closed above which confirmed the long. See the images below:

2015-07-19 EU Long D1

2015-07-21 EU Long H1 2015-07-22 EU Long M5 result

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