As euro is capitulating we are positioning for another short term rally contrary to the overall trend.
Here using a funnel between 1.11250 and 1.12400 range.
If the funnel is broken from the downside we are looking into further capitulation and trade being cancelled.
Otherwise we are positioning for a breakout trade around 1.11620 mark.
Please note that if the projections don't pan out as illustrated the trade should be discarded regardless.
Trade safe, trade well
Here using a funnel between 1.11250 and 1.12400 range.
If the funnel is broken from the downside we are looking into further capitulation and trade being cancelled.
Otherwise we are positioning for a breakout trade around 1.11620 mark.
Please note that if the projections don't pan out as illustrated the trade should be discarded regardless.
Trade safe, trade well
Comment:
Trade cancelled
Comment:
Support was broken trade was cancelled