eurusd buy setup

FX:EURUSD   Euro / U.S. Dollar
163 0
eurusd is in a big corrective structure as everything euro does turns into consolidation. we have managed to form a bullish accelerated trend that may break the consolifation. RSI shows bullish . i will long if price manages to break the 4hr downtrend line. as long as the accelarated trend line holds we have enough momentum to break previous highs. and if price gets more accelerated then we might see price exceed my 2 targets. we will see how price develops for more setups but for now these 2 will remain my targets

eurusd buy setup
- .618 pullback
- bullish RSI divergence
- correctional downtrend

entry: bullsih breakout of 4hr trendline
sl: 1.10154
tp1: 1.14279
tp2: 1.16163
Comment: alert set at 1.11300
Comment: bounced
Comment: sl can be moved now. lets remember the idea, "as long as price remains above the accelerated trendline, i will be a buyer. once it breaks i will reconsider as for this consolidation to break bullish and extend to further levels as i am exppecting, it needos to get somewhat of a bull momentum going or else this will just be another impulse correction.
Comment: sl now at break even. if this thing retraces after todays spike, it will go down and continue the channel. remember price must stay above the accelerated trendline
Comment: i am not liking the way the trendline has been holding. expecting a break of it and for bears to give euro another run. i have no projection as to how far bears will push the eur but i am expecting bears to keep any movements within structure and not too impulsive, if it is impulsive at all.
Trade closed manually: will wait for structure to develop for a re entry as my bullish bias is still there. possibly will be a different setup when we see euro go so i will most likely post a different chart
Comment: this setup will lead to a full bull weekly impulse. look for an entry
Comment: you could sell this breakout til tp1
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