After a strong bearish momentum that lasted for three weeks, EUR/USD approached the area where a breakdown occurred in early July, from which a significant correction may occur.
Market players should consider setting off breakdowns on smaller time frames.
With the three-wave (ABC) pattern where wave "A" represents the upward movement seen in the pair, traders could open buy positions up to the 50% retracement level. Place stop-loss at 1.09100 and take-profit on the breakdowns of 1.09500 and 1.10500.
This plan came from the framework of the Price Action and Stop Hunting strategies,
Good luck in trading and don't forget to control the risks! Have a nice day.
