Short Setup in Breakout of the Triangle - EURUSD

FX:EURUSD   Euro Fx/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 :)
Ideas Scripts Chart
United States
United Kingdom
Home Stock Screener Forex Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Account and Billing Sign Out