DavoodWadi
Short

Short Setup in Breakout of the Triangle - EURUSD

FX:EURUSD   Euro / U.S. Dollar
Hello everyone,

In the middle of the week it became apparent that EURUSD             is also forming a triangle during its correction.
It's symmetrical as it should be, and as I've counted for you it has all its 5 waves complete and clear.

I've already shorted this pair hours ago when it got rejected off the upper trendline , but I'm sharing this idea now because I feel there is still time to short this pair even after the breakout of the triangle.

Now if it breaks out to the downside (as I hope so), it's going to form the third wave of its minute degree bearish wave.
So it's going to be a big fall.

For the stop loss and targets on this trade I'm going to use the old methods of pattern trading.
So the stop would be above the e wave and the target would be equal to the upright side of the triangle.

Stop @ 1.2493
Target @ 1.2274

Happy trading :)
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