EURUSD long, ending diagonal

FX:EURUSD   Euro Fx/U.S. Dollar
ending diagonal buy setup
better to wait for break out of upper trendline . (for conservative traders)
good RR
heavy divergence on MACD and RSI
Farid Jan. Please take attention we are in bearish channel that you are draw that. and Euro will fall soon. we will go on 03 channel soon.
+1 Reply
farid_ardavani PooyaSalehipour
a year ago
salam Pooya khan. if this counting is correct, so ending diagonal structure has been ended and we have to wait for a reversal to upside, so price wont come to lower trendline again; MACD and divergence telling us that momentum is upside as we expect. but if this counting is incorrect, there is a possibility for another down move to lower trendline of channel and then it will reverse to upside. So because we dont know whether this counting is true or not, its better to wait for the break of upper channel, that is confirmation for a upside move.
good luck :)
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