If you have followed my previous blog post, I told you that the will eventually hit the 1.618 extension level. But the EURUSD has produced a Positive MACD Divergence on my Modified MACD which is a sign of retracement or reversal. Shortly after, the price started to move up over 100 pips.
If you are a user of my trade copier, you will see the profits of the EURUSD on your account as I have entered the trade for you yesterday.
In fact, we have made a good profits on the EURUSD, GBPUSD and GBPJPY yesterday.
Below is the screenshot of all the trades taken so far from 1st to 3rd March on the trade copier.
If you take a close look at the trades, you will see that our win is always much higher than our loss and this is because the strategy we are using has high risk reward ratio which is the key to profitable trading.
If you have $1,000 is your account, you will see $1,120.60 in your account now which is a profits of $120.06
If you have $5,000 in your account, you will see $5,603.00 in your account now which is a profits of $603.00
Best of all, we are only in the 3rd day of March.
If you are interested to join my forex course and get lifetime free access to my forex video signal, you can do so via the promotion link below
For those of you who are in my forex course, please go to your members area to watch the detailed Chart Analysis where I will show you the Modified MACD divergence and how it moves the price.
For those of you who are in my forex video signal, please go to your members area as I have posted a video signal to show you where to enter a trade today for the EURUSD and where to set your stop loss and target profits.
For those of you who are not in my forex course, I am unable to show you the modified MACD divergence here as it will be unfair for my students.
So let us come back to the analysis now
For the EURUSD, you can see that it has hit a major resistance zone which consists of a major swing, 400 EMA and if you draw a Fib on the chart, you will also the the 0.618 resistance there as well.
With all these resistance, I will look for chance to SHORT the EURUSD today as it is always wise to SELL the rally during a down trend.
Below is the live chart video analysis video
Like what I told you in the previous post, the price will likely be moving toward the 1.618 extension and therefore you should be looking for a good point to enter the SELL trade for the EURUSD.