Hey traders, back from summer holidays, and altough i will go full time from Monday i decided to take a look in the charts to see if there is anything interesting in the markets. In EURUSD we have the completion of a bearish AB=CD at a key level where the 0.618 retracement and a previous support, now resistance uptrend create a strong zone.
Stoploss and profit targets as shown in the chart. If price reaches the first tp, we may move stoploss to breakeven at the second position.
Stoploss and profit targets as shown in the chart. If price reaches the first tp, we may move stoploss to breakeven at the second position.
Comment:
Bearish AB=CD Pattern:
Comment:
A quick update guys.. Price has broken below the uptrend which is good news for those who are in this trade
Comment:
This setup is working great till now but we may make it even better. Price is now correcting and we may sell the breakout and trail our stops. If you don't know how to trail, just place your initial stoploss at breakeven
Trade closed: target reached:
Move stoploss to BE at second position
