For training purposes only. Remember to always trade your plan. Fantastic win set up this morning on the EURUSD
. Starting at the weekly view, my bias is to the downside breaking and closing below the up trendline
on July 30th. After the break the pair had retested the back side of the trendline
hitting the .382 at 1.17908 and continued to move down. Daily bias continues to the downside since we didn’t have a break of the 1.15 area. 4 Hour chart had created a beautiful three wave rising channel
, however, I did have 4 hr
break and close below support level
at 1.13598 creating the last high at 1.14437. After the break snaped the fib lines. Moving down the 1 hr
chart the pair retraced up the 0.50 zone with a lower low, lower close candle entry was made at 1.137 with TP achieved at 1.132. Being so close to the major area of support at 1.130 I will be waiting to see what happens in this area and re-evaluate.