EURUSD - Breakout from symetrical triangle above 1.2940

FX:EURUSD   Euro / U.S. Dollar
489 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...
With this false breakout I'd been caught as well. Never mind. With a good risk management such failures don't hurt to much.
RSI resistance broken, if clears top of range box , mid point of clone is next likely near term target

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

fxswing nmike
Still plenty of time for more downside for EURUSD after the FOMC, and the triple witching next week.
Yes Agree... more downside in store
Inside day breakout
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out