fxstudent299
Long

Long EURUSD – kind of a Cup-and-Handle Formation

FX:EURUSD   Euro Fx/U.S. Dollar
Trading idea on 1h chart:
Long EURUSD             – kind of a Cup-and-Handle Formation

- usually Cup-and-Handle Formation is a CONTINUATION formation (here not, so not a real one)
- here it looks like one, but is against the major downtrend
- more import here are 3 higher highs (buyers are taking control) and a clear resistance line at 1.1867
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Open Long at 1.1870, Risk-Reward = 2.67
SL@ 1.1840 (-30), TP@ 1.1950 (+80)
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Disclaimer: There is a very high degree of risk involved in trading forex. I assume no responsibility or liability for any trading or investment results. My posted statements and charts may unintentionally include inaccuracies. All content posted is for educational purposes only and is not a financial advice. The presented set-ups are not solicitations of any order to buy or sell.
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