Range Bounce - Trade Of The Week

Nice trade on the EURUSD this week with a bounce off the bottom of the range. This range is established on the Daily. Remember the daily chart is viewed by all the big players in the market like banks and governments. This means they have the backing to really move the market so knowing what they may be looking at can increase our probability of a successful trade.

At the same time of the bounce off the bottom of the range, the 5th leg of Elliott wave was in play. This is support for the case of a reversal. The reversal leg "a" of Elliott wave broke the downward trend to give more of a reason to go for a long trade.

A limit order was placed on the "b" retrace of Elliott wave at the 50% and 200MA. C point was made lower down at the trend line made from the highs of leg 1 and 2 of Elliott wave.

185 views0 comments

Recent Posts

See All

© 2018, Inc. All Rights Reserved



Level 2,

349 Collins Street,



Tel: +61 417 006 066


Disclaimer: Trading foreign exchange and futures on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange or futures you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange and futures trading and seek advice from an independent financial adviser if you have any doubts.  Past performance of financial products is no assurance of future performance. Lepus Proprietary Trading is a trading name of Jackson Capital Pty Ltd (ACN: 165 682 842) 

  • White Twitter Icon
  • White LinkedIn Icon
  • White Facebook Icon