Approaching an interesting support trendline
Hi Folks:
Here's my chart on this pair. After a stunning rally downwards we just hit a a weekly support and we are just few pips away of another trendline support.
My target remains unchanged at 1.11 (shorted it from 1.20) and we are gonna get there pretty soon.
At this point I am willing to close 70% of my shorts and just the rest alive till the target.
Possible bounce would not surprise me after all this massive fall but it would not suprise me either to hit the target straight away.
In any case I am proposing a brief long idea as per the chart.
Cheers
EURUSD
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Remember, if you liked this idea don't forget to click LIKE and FOLLOW. That will encourage me to continue charting for you.
Here's my chart on this pair. After a stunning rally downwards we just hit a a weekly support and we are just few pips away of another trendline support.
My target remains unchanged at 1.11 (shorted it from 1.20) and we are gonna get there pretty soon.
At this point I am willing to close 70% of my shorts and just the rest alive till the target.
Possible bounce would not surprise me after all this massive fall but it would not suprise me either to hit the target straight away.
In any case I am proposing a brief long idea as per the chart.
Cheers
EURUSD
-------------------------------------------------
Remember, if you liked this idea don't forget to click LIKE and FOLLOW. That will encourage me to continue charting for you.
Trade closed: stop reached:
The idea failed for 3 pips (I have placed the SL too close). Current candle suggests a possible reversal or pullback. Let' see the end of today's session.
