EURUSD - Trading the Trend Pullback - Market Consolidating

Hi Traders!
The market is in an Uptrend.

Before we start explaining the idea, look at this H4-Timeframe Chart:

The pink Trendline in the middle was active since 2018!
(We made a Idea about the Breakout of that Trendline, the link is at the bottom.)

So, after the market broke out of this Trendline, it retested it several times.
The whole structure is in a formation of a descending Triangle.
At this point, the formation was a Bullish Triangle Pattern.
If we stick to it, we realize: The TP would have been hit now and it is shortly before the Pullback.

And that's what the idea is about (H1-Timeframe):
The market is now in a consolidation stage.
When the bearish Breakout occurs, we will sell it towards the next Resistance.

We recommend to trade carefully, because we here are Trading against the Trend.


Thanks and successful Trading :)!

Trade closed: stop reached:

SL hit due strong EUR currency during NEWS:
- French Flash Services PMI,
- German Flash Services PMI and
- German Flah Manufacturing PMI

We learn from this Loss: Don't trade during News / Trade with a low Lotsize


Have a nice day :)