MarxBabu

EURUSD Pattern,Channel,Triangles What to follow Up or Down?

FX:EURUSD   Euro / U.S. Dollar
As you all know ,my trading style is purely using two indicators that is called " LongBuyLongSellIndicator" & "Profit Maximizer" Plus using Trends,Channels ,Triangles & Price Action.

Taken 4H chart of EURUSD for two months ,Did analysis over the price move from low to high ,high to low ,this clearly follows Channels for forming Low and High than following the normal Flat Horizantal Support and Resistance level as --------------------------------- like this .


Take a look at this chart representation to understand the parallel channel .

What is now ?

After the big red candle bear sign shown ,Now EUR USD is forming the downtrend triangle shown in Red color.
Wait for the price to break either above or below the small red triangle to take a position ..





If price break below the triangle go for Short and the top triangle line is Stop loss level.
Price when breaks above levle go for long ,Stoploss is the lower point of the triangle .I am sure this will be huge rewarding setup.

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Let me meet you with another interesting idea in the next post.


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