FX:EURUSD   Euro / U.S. Dollar
On FX:EURUSD             , the market not trending on hourly chart. The price formed triangle (it can be pennant in the 4H bars), it means not bears nor bulls are in control the price. It is consolidated and we have to wait the perfect moment to see who gets the control and trade on their side. In this point, wait for the breakout confirmation and then enter.
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Nice analysis. What would you consider breakout confirmation? Would you use the stochastic?
when the bar closed out of triangle. I only use stochastic for Divergence purposes, not as overbought/oversold.
+2 Reply
clawrine Art_of_Trading
Ok, thank you for the info!
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