fxswing
Long

EURUSD - Breakout from symetrical triangle above 1.2940

FX:EURUSD   Euro Fx/U.S. Dollar
487 9 5
EURUSD             - Breakout from symmetrical triangle

Reasons supporting the trade:

Symmetrical triangle
A daily trendline that seem to have buyer support at 1.2925 (see chart below)
Monthly S2 at 1.2921
Yesterday's inside day breakout above 1.2940 (stop for the trade at yesterday's inside day low)

Target is "normal" triangle projection.

Now, let's have the market make his move...
fxswing
2 years ago
Inside day breakout
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nmike MOD
2 years ago
RSI resistance broken, if clears top of range box , mid point of clone is next likely near term target

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fxswing nmike
2 years ago
Yep, I agree.
If top of range box breaks above 1.2988...
/crossing fingers
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nmike MOD nmike
2 years ago
also notice the significant RSI positive divergence
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fxswing nmike
2 years ago
Yep, as I see it it's a counter trend trade, not expecting more than 1.3070, pushing into 100sma 4H.
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nmike MOD fxswing
2 years ago
yes, a counter trend trade, probably no more then about 1.30ish

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fxswing nmike
2 years ago
Still plenty of time for more downside for EURUSD after the FOMC, and the triple witching next week.
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WallStScalper PRO nmike
2 years ago
Yes Agree... more downside in store
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motleifaul
2 years ago
With this false breakout I'd been caught as well. Never mind. With a good risk management such failures don't hurt to much.
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