QuileHills
Short

EURUSD Consolidation Breakout Watch

FX:EURUSD   Euro Fx/U.S. Dollar
745 12 26
I don't trade EURUSD             very much because it seems like an overly emotional pair but this seems like a very promising set up for a short here if we get a solid break of the trend support.

R:R of position shown 3.37
Trade active: Entered with Sell Stop as shown.
Comment: Profit Secured. SL moved down to in profit at 1.12835
Comment: Reentering with sell stop entry at 1.12458 SL 1.12788, TP 1.11336
Hi. I'm a newbie. Please excuse my silly questions. May I know what is your TP? And, the entered price position please...
Reply
QuileHills ShaneIce
Totally excused. My current TP is 1.1010 which is in the area of my longer term trend support and the 50% fib support.

You can see how my position is set up by putting your cursor over the the red and green rectangle.
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ShaneIce QuileHills
Thanks a lot sir. A very nice set up. Wow, the target will take days. Out of curiosity, short term target for the day or by tomorrow if you don't mind.
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Nice, thank you for sharing. The colors are Gann tool?
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QuileHills sketchmaster
Fibonnaci
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Thank you. You´re doing great job.
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QuileHills sketchmaster
Thanks! I appreciate the support.
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sketchmaster PRO sketchmaster
Oh, or is it a trand-based FIBs... (?)
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Good signal, well done
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Just wondering, did you take the trade when a new candle opened underneath the trend support line? If not how would you enter the trade.
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QuileHills Thinkfund
I used a sell stop in order to enter. My thinking is that the entry is low enough below the support to confirm a true bearish breakout and rule out a quick move just barely out of the channel and back in and upward.
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Thinkfund QuileHills
how do you decalre that the market is low enough below the trend line for the entry. My thinking is that if the candle closed then some momentum would be generated to go lower.
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