FX:EURUSD   Euro Fx/U.S. Dollar
166 2 5
Looking at the 4hr time frame you can see a trend here. We are currently testing the most recent low with a pretty big divergence on the rsi and close to support on the trend line . I will be watching and looking for a long setup on the 1 hr             chart. This is the first time we have seen this kind of setup in a long time while it has been in this channel. If this trendline happens to hold and it starts running I will eye the approach to 1.15 pending the action near that level, divergences, speed, etc, I would either be looking to take off some of the position and let some run for a possible breakout, or take off all of the position. I would and always exit if I see action that denotes not reaching that high as well.
it did dip below that trendine but this morning the 1hr chart was having higher lows with and respecting the line again, I entered my long position at 1.1133
well comfortably in the green here now with this trade, started a bit sketchy but stuck to the plan, had a stop under the prior swing low over the night last night. Also as per plan looking to hold this for a bit until action tells me otherwise. In a perfect world would like to see a retest of the top of this channel.