EURUSD - €$ MTFA! - Channel bounce, Triangle Break and more!

Hi Traders!
The market is in an Uptrend.
Let's start with the Daily Timeframe:


As you can see there is a clear ascending Parallel Channel.
At this moment, the market is at the Bottom of the Channel.
In addition, we get some support there from the 50EMA and the also the Support at 1.17000.

Ok, let's continue with the H4-Timeframe:


The market is now ranging between those two Levels:
- Resistance at 1.20000 and
- Support at 1.17500.

Here we can see a descending Trendline.
This is representing the Bearish Pressure.
Furthermore there is an ascending Trendline, representing the Bullish Power.
Due the Triangle is moving upwards, we can assume more bullish than bearish Power.

Finally, let's move on to the Entry Timeframe:


You can see those two Trendlines again, resulting a Triangle.
The Trading Plan is this:

When the price breaks above the Triangle and also the orange dotted Resistance, than we'll buy.
The Stop Loss is under the ascending Trendline and the orange dotted Support.
The Take Profit is the Top of the Range, just a bit under 1.20000.

We recommend to trade the Breakout only with high momentum.


Thanks and successful Trading :)!