TradingView
BoonHooi
Jul 24, 2017 2:33 AM

Rising Wedge on EURUSD Short

Euro Fx/U.S. DollarFXCM

Description

EURUSD approaching the resistance zone created by the Aug 2015 and the May 2016 highs.
I see a rising wedge forming with the RSI showing that this move is exhaustive.

Will look to go short if it breaks out of the wedge.

Trade active

I am protecting my profits although it is only less than 20pips.
Shift SL to breakeven. You might even want to consider closing the trade for a small profit. I was expecting this pair to drop drastically but it has not. This only shows that the USD weakness still persists.

Trade closed: stop reached

Out of the trade at break even
Comments
jojofang0901
Beautiful trade setup, thank you for sharing your view. I have similar idea as well on this pair.

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