Daniel.B

EUR/USD Long Term compounding trade set-up.

Short
FX:EURUSD   Euro / U.S. Dollar
I don't usually place trade setups, but decided that I should probably start sharing with the trading community on trading view. Well what we see here is a "bear" flag on the currency pair. Most likely formed on the fundamental indecision among traders on "when" the US Fed will raise rates. And on the ECB's lack on mentioning two words, "Q.E." haha. And much more complex fundamentals in play but would be to much to write about and make it more confusing than people would like to hear. But in all seriousness the EUR/USD forms bear flags in the long term downtrend that reach up and touch (or come very near) to the downwards trend line before turning downwards. This is a solid set up with good Risk/Reward and a stop at 1.2535 (Max Loss 55 Pips) and a target at the next support level past the 1.2300 Level, which would make the Take Profit at 1.2040 (+440 pips).

Worst case scenario I get stopped out. In which I will be looking to enter short at 1.2600 area. With a stop 55 pips above entry, and the same TP of 1.2040 (+560) pips.

Happy trading "dudes and duddettes" lol

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