In my last idea published, I spoke about looking to go long on EURUSD at the supportive trendline and yellow zone plotted on the chart. See my other post for a detailed breakdown of this setup. Price is now in this zone, presenting a possible inverse head and shoulders pattern and a bounce off of the supportive trendline. Ideally, traders should monitor price action in this zone, and make use of pending orders to get into a long position. A suitable area for a low-risk stop loss is a few pips below the yellow zone and supportive trendline.
Be sure to follow me for more ideas and analyses. Leave a comment with your thoughts below.
Best of luck traders!
Be sure to follow me for more ideas and analyses. Leave a comment with your thoughts below.
Best of luck traders!