Zoen_Trieste

EURUSD Off Of Triple Bottom

Long
FX:EURUSD   Euro / U.S. Dollar
EURUSD is has been trading lower along the supply line these last months. At this point, some demand is expected to enter this market, there is a triple bottom support area around 1.1515 and the overall trend seems to be overextended. There hasn't even been a pullback to 0.382 of the setup bear leg. Long entries around the triple bottom area with stops below 1.1470 and looking for 1.5R-2R targets seems reasonable at this point. Worth a try.
Trade closed: target reached: 1.8R target reached. Can potentially reach 2.5R targets the upcoming week. Taking partial profits and modifying stops to cost.