Breakout Identified in EURUSD
Time Issued: Monday, 08 February 2016 16:12:15 GMT
Status: open
Entry: 1.11577 – 1.12034
Limit: 1.12685
Stop Loss: 1.10856
The Breakout Opportunities system has just bought EURUSD at 1.11817.
The system recommends entering this trade at any price between 1.11577 and 1.12034. The signal was issued because the EURUSD has broken its 24-hour high while our Speculative Sentiment Index was at -1.6938, suggesting that the EURUSD may have further to rise.
A stop loss has been set at the 24-hour low of 1.10856 and a profit target has been set at the 1 Day ATR level at 1.12685. The system will move the stop to the next 24-hour low every time that 24-hour low is higher than the previous 24-hour low.
Breakout Opportunities is a breakout strategy that aims to catch the significant moves that typically happen when currencies break through technical support or resistance. The SSI Breakout strategy tends to work well in volatile market conditions.