Trading EURUSD in the Forex Market

We have essentially been in a new uptrend move on EURUSD since March 4th of this year going by the daily chart. There was a minor retracement wave which had a peak high on 3/19 and bottomed out on 4/22. Since April 22nd the Euro has been a Long trade only in my opinion. Too many traders over-complicate things and try to trade way too often. When a currency pair is in this strong of a move, why try to fight against it? The best approach is keep buying pullbacks, until there is a reason not to buy them any longer.

Here during the Monday morning U.S. trading session I am watching for yet another Long entry. The first level I am watching is 1.4170, which would be a bounce off of the previous day's high. So far price bounced off that level once exactly one hour ago. If Price breaks through I will try for an even better entry at 1.4138, which is my 23.6% fib retracement level. If Price does not come low enough I will consider a Long entry around 1.4200.

I always recommend coming up with a plan, and for any trader that works with me personally in the future, you will come to know that I like to work in threes. Perhaps this has to do with my background in Tai Chi and Qigong, as the number 3 has a lot of prominence in Chinese culture. It also seem to be the maximum # of things I can concentrate on at one time. I use three different charts, to look at a currency pair three different ways. I zero down to three time frames to find a trade. I try to come up with three different potential entry points. I always try to remain adaptable so I can remain with the flow of the market.

Happy trading!