Forex Trading EURUSD H4 (23 Nov 2018)
EURUSD price has broke down below 1.1380 range as discussed yesterday (Forex Trading EURUSD H4 (22 Nov 2018)).
Is it time to look for EURUSD shorting opportunity ?
Let’s take a look at forexfactory to see if there are any high impact news (red) today before making trade plans. Note: Time is GMT (+8).
As can be seen above, although there are no high impact news (red) for the rest of the day, there’s EU Economic Summit on Sunday.
This important information means that there can be a gap in price when the market opens on next Monday. Hence, trading plan for the day will be short term trades with 10 to 30 pips profit.
Forex scanner will come in handy today for short term day trades, filtering all 34 forex pairs, screening up to hourly time frame.
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- Calculate your risk before entering any trade. (Good rule of thumb is to risk 1 to 2% for each trade)
- Check for any major news before entering any trade.
- Scan 34 Forex pairs on all time frames to enter the best trade.
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