Long EURUSD on Bounce of Falling Wedge Top TL

FX:EURUSD   Euro / U.S. Dollar
262 6 7
Iit appears EURUSD             has broken its downtrend and now the wait for confirmation begins. A lot of support at these levels along with the Yearly pivot that would suggest a reversal however with NFP news coming its best to wait for confirmation. Will look to long on bounce of top TL of falling wedge .
can you notify me when you think the bounce is happening and its a good time to buy?
+1 Reply
SighTTrader kieranc14
im already in, entered on the break of 1.11500, i buy pre-reversal that way my SL is small compared to after confirmation but that's just my style
kieranc14 SighTTrader
alright im gonna buy right now at 1.1158
kieranc14 kieranc14
what do you have set as your take profit or are you just going to wait til you see the uptrend clearly starting to reverse and then sell?
SighTTrader kieranc14
If it completely confirms reversal i plan on holding it till it hits an area of resistance then look for a bearish intraday pattern to exit. I basically follow this chart as i trade and use a smaller TF to enter and exit when price reaches an area of S/R. The goal is to take the trade as far as patterns and trends can take me.
SighTTrader kieranc14
i am expecting a pullback though so dont be surprised if you see one.
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