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 :)
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:
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.
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.
I'll update you all as the move progresses.
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Aaaaaand lift off!
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The channel on the 30m chart is holding well, this has opened up an entry point to get into the long term move.
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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!
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Here is some analysis on the 30m chart for anyone looking to get in on the long-term move.
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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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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.