LewisGlasgow

EUR/USD - Three Drives

Long
FX:EURUSD   Euro / U.S. Dollar
Hello traders, following up from my previous post on EUR/USD with a bullish BAMM setup (chart is shown below), price is now forming a bearish three drives pattern on the 4h chart.


Price completed the 2nd price drive at 1.23 and we're now beginning the 3rd price drive which I plan to capitalise on.

You will need to pay close attention to price action and candlestick formations in the current area for the perfect entry point.

A clear break and close below the trendline would indicate a move lower, therefor invalidating the pattern.

This is a great trading opportunity with almost 1:4 risk to reward.

Thank you all for your continued support, don't forget to add me on social media :)
Trade active
Comment: The trendline seems to be holding well, the next 48 hours will dictate the direction of this pair but everything is telling me the bulls are ready to take over.

If you take a look at the daily chart below, we're trading just above the key support level at 1.05190... There is speculation that EUR/USD will break out of this horizontal channel, but I cannot see it happening.


I'm currently running in a small profit, I'll be sure to keep everyone posted on this trade.
Comment: Keep an eye on this ascending channel on the 15m chart, price is dropping heavy at the moment but I expect it to stall on the trendline followed by a reversal.


Feel free to join my Telegram channel to keep up to date with current and future positions.
Comment: Trendline is holding really well, we just need to keep the momentum going!


I'll update you all as the move progresses.
Comment: Aaaaaand lift off!
Comment: The channel on the 30m chart is holding well, this has opened up an entry point to get into the long term move.

Comment: I'm now up 100+ pips and price has hit the top trendline, we may see a short-term pullback once again followed by a breakout!

Comment: Here is some analysis on the 30m chart for anyone looking to get in on the long-term move.

Comment: I'm now up 150+ pips, to all of you in the trade make sure your stop loss is in profit!
Trade closed: target reached
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Comments

Thank you for the update, Lewis :)
+1 Reply
@rakefree, no worries! All the best :)
Reply
What a ride :D
+1 Reply
LewisGlasgow SinatraFX
@SinatraFX, everyone was getting nervous until that happened lol!
Reply
ladlogic LewisGlasgow
@LewisGlasgow, crazy stuff
Reply
@ladlogic, tell me about it
Reply
I'm in for this pair sir,,
good luck for us :D

+1 Reply
@TMTanzil, I'll see you at the top :)
+1 Reply
Lewis for president. Move Lewis from the scotish hall of fame to a white house, Lewis, Lewis, Lewis
Reply
LewisGlasgow trajkovic
@trajkovic, LOL one day, the country will be booming!
Reply
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