EU has broken out of a trendline. Not a very strong break but still a break. It has been holding the characteristics of an uptrend for a good portion of last week. High impact fundamental news is coming out for the dollar this week. To go out on a limb I do not think it will be good news for the strength of the dollar. I'm targeting about 150 pips to the upside. Looking to trail my stop daily. Targeting the 1.11 level. Would like to hear feedback and collaborate with different ideas. I hope everyone has a good trading week!
Comment:
Looks like this is playing out well. We are attacking and breaking through resistance levels. Tomorrow with retail news and the daily chart traders we should see a good jump. There are a couple resistance levels coming up to watch out for. Ill be up early for retail news and we'll see what happens. If you took this trade with me move up your s/l to break even or a little more. Risk free trades take a lot of emotion out. As we get higher look for reversal patterns. Should be a fun way down in the next few weeks. Ill be posting my short idea when we get there. Hope everyone has a good week!