Enum

Can This Repeating Pattern Sustain?

Long
FX_IDC:EURUSD   Euro / U.S. Dollar
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4
Looking back we can see a very similar run of 3 tests of support then drops below support then back to test the new resistance.
Looking at the angles of these runs between the tests of Resistance we can see they are averaging around 58%
We can see previously it tests 3 times before pumping up half way before coming right back down below support. This is something to remember.
We could see a similar pattern form now. We have 3 tests of support which means we might have a nice little long to take advantage off.
Comment: That 55 degree trend line is still working. We are approaching a possible resistance at around 1.072-3 watch this point for clues to the next round.
It could be a great TP
Comment: Reached first potential target. Can it break this resistance and see it go to 1.08?
Profits are locked in
Trade closed: target reached