I was analyzing EURDOL and found that there could be two scenarios.
The first scenario in long, where the trend remains within the channel where it has been for months and will try to take TP2 (UP) to complete its cycle.
The second scenario in short, using the trendline method I noticed that there will probably be a breakout of the trend that has been going on for months this will lead to the TP1 (below) being reached.
The point of entry will be when the price crosses the red line and comes back ( pull-back ).
As for TP2, there has to be a total trend change, which at the moment will only be seen when the first TP1 is reached.
The first scenario in long, where the trend remains within the channel where it has been for months and will try to take TP2 (UP) to complete its cycle.
The second scenario in short, using the trendline method I noticed that there will probably be a breakout of the trend that has been going on for months this will lead to the TP1 (below) being reached.
The point of entry will be when the price crosses the red line and comes back ( pull-back ).
As for TP2, there has to be a total trend change, which at the moment will only be seen when the first TP1 is reached.
Comment:
Now EURUSD has created a pull-back (you can see in 4h), this action is more important for our strategy because this is good point for enter in market and take TP1.