Waiting for Long opportunities on EURUSD by ThinkingAntsOk
Use this as an idea to develop your own setup, This is what we will be waiting to take a trade on EURUSD
Main Items we see on the 4hs chart:
a)Price broke out the descending channel on August 19th, but re-enter the zone after the distribution process (Flag Pattern)
b)After Powells have spoken we saw a bullish Candlestick and the price closed on an interesting zone on Friday
c)We are waiting for a retest of the broken resistance level (now support)
d)The structure we are waiting for is going to be a Flag / Pennant / Flat patterns
e)Once the structure is completed we will be looking for an entry on the breakout
f)On the chart we have set an idyllic ENTRY/STOP/TP, this will work just as an idea of what to expect.
Now take a look to Higher timeframes like 1D and 1W, we think there are clear signals of a Bullish Movement coming on EURUSD on the Short term
Weekly:
Daily:
Main Items we see on the 4hs chart:
a)Price broke out the descending channel on August 19th, but re-enter the zone after the distribution process (Flag Pattern)
b)After Powells have spoken we saw a bullish Candlestick and the price closed on an interesting zone on Friday
c)We are waiting for a retest of the broken resistance level (now support)
d)The structure we are waiting for is going to be a Flag / Pennant / Flat patterns
e)Once the structure is completed we will be looking for an entry on the breakout
f)On the chart we have set an idyllic ENTRY/STOP/TP, this will work just as an idea of what to expect.
Now take a look to Higher timeframes like 1D and 1W, we think there are clear signals of a Bullish Movement coming on EURUSD on the Short term
Weekly:
Daily:
