Hello everyone, if you like the idea, do not forget to support with a like and follow.
EURUSD is sitting around non-horizontal support in brown so we will be looking for buy setups.
Before we buy, we want the buyers to prove that they are taking over again. You don't want to buy a bearish market right?
on H4: EURUSD is forming a channel pattern in blue but our upper trendline is not valid yet, so we are waiting for a new swing high to form around it to consider it our trigger swing. (projection in purple)
Trigger => Waiting for that swing to form and then buy after a momentum candle close above it (gray zone)
Meanwhile, until the buy is activated, EURUSD would be overall bearish can still trade lower.
Good luck!
All Strategies Are Good; If Managed Properly! ~Rich
Great post. Have you traded channels often, do they work well? I find the concept of them pretty interesting, it’s like algos know of the upper and lower boundaries, pretty amazing. Thanks again
TheSignalyst
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@MarketAnalysis-, thanks mate. yes I like channels but not as a stand-alone strategy. In conjunction with other tools of course
InkyGrip
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Nice content! thanks for sharing! 🦐
TheSignalyst
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@plancton0618, thanks a lot PLancton :D
ForexTrendline
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Nice setup, thanks for sharing. Here's our analysis on EURUSD