FullTimeTrader

EURUSD-triangle scenario working fine but staying aside

FX:EURUSD   Euro / U.S. Dollar
1607 6 26
According to my previous idea i think the price is forming a big triangle:


The B leg appears to be completed and now the price is moving toward the C leg completion.

We can look for longs now but Its tricky to trade inside a triangle, so im staying aside and wait for the leg C completion.

There is a potential bearish bat pattern at a strong structure, trendline resistance and EMA 200 near that level. I will be looking to sell there.

Right now im long on EURGBP             so im leaving this pair until i see a better scenario.

Happy Weekend.
FullTimeTrader Robson.TraderFX
Hello, thanks for sharing your ideas. I did the D1 technical analysis and found the trendline has already broken. The price is facing strong horizontal and trendline support. Looking at RSI we see the price is bouncing from the trendline already. We have also a potential inverse head and shoulders pattern forming. I would enter long now with a small risk
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My take on the same pair
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FullTimeTrader SmartTradingFX
Hello, thanks for your comment. From my point of view the trendline is about to be broken.I'm expecting an ABC move, so i would buy now or below because the price is making a pullback. Lets see what happens.
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Yeah, was looking at a rally to short, actually found that same pattern with moneymaking today.
I'm short already but will just look to add higher if it works.
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