February 12 2021 EURUSD Breakout of TR possible correction
EURUSD
If prices manages to breakout of the major support level. Possible test back to support level near 1.206~
If prices do not manage to break out of trading range then triple bottom and a possible long back up to resistance,
Trade active:
Below ATR trade broke
Broke past support now acting as resistance also respecting new trend line formed from bear BO below support. however currently a mix of buying pressure with tails below every time it tried to break through 1.21000 support level.
May have to exit early depending on the price action when London-New York session overlaps.
Broke past support now acting as resistance also respecting new trend line formed from bear BO below support. however currently a mix of buying pressure with tails below every time it tried to break through 1.21000 support level.
May have to exit early depending on the price action when London-New York session overlaps.
Trade closed manually:
bearish momentum lost in 12.0900 s/r level with a strong rally back up to resistance. prices manifested into a bigger trading range. Take profit target was too enthusiastic. Should've exited right away when bearish momentum was lost as prices were not clearly trending in one direction. Should've shorted from the top of the trading range and exited at 12.0900. Exited for a 0.33R loss at the end of the trading week.
Might have to exit here if bearish momentum is lost