m4nti
Long

Falling wedge setup forming in EUR/USD daily

FX:EURUSD   Euro Fx/U.S. Dollar
206 0 1
We've got a ton of markers happening here signalling an incoming counter-trend (from bearish to bullish ).

SIGNALS:
1. Double/triple bottoms (depends on how you look at it) testing a long-term support level over and over.
2. RSI shows a clear bullish divergence happening right now.
3. Steep decline trendline hits all the retracements' highs beautifully.

GETTING INTO THE TRADE:
The moment I get a candlestick with a higher high and a higher close than the current resistance level present in the range and above the falling wedge trendline, I'll buy and ride the bull trend.

GETTING OUT OF THE TRADE:
1. Stops should go 20-30 pips below the current support level in case the market decides to freefall down right after it breaks above the trendline.
2. If the market picks up the bullish trend , I'll trail the stops after each retracement, placing them just below the newly formed support levels.
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