Eurusd is in a bullish channel and is still bullish. As long as it doesn't break below 1.18 this trade is still valid, look for entries around 1.18 for optimum R/R. I would' set a buy limit on 1.1810 and SL on 1.1750 (60 pips) TP target would be 1.20 - 1.2050 This should be a holder for hours to even days.
Want to pintpoint the entry better? Wait until prices heads down for a retest of the trendline. Check on smaller timeframe for a pinbar or rejection candle.
Good luck :-)
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Trade is still valid, we are waiting for the move up that could happen. Let's see how it goes. Break below trend line is making the idea invalid.
@plancton0618, Thanks, I try to improve more and more.
Looking at how DXY moves last hours. Could be different tho! and it could invalidate this idea if it breaks the trend line.
I've never really seen such a structure break up.
It done a impulsive move up, now a channel thats slightly bullish.
Normally its correction channel bearish then impulse to the top again..
InkyGrip
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@Machiel92, Thanks, im wairing for a possible confirmation at the break.
Machiel92
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@plancton0618, next week will tell, looks like dxy again got denied for a buy.
Sp500 crashed I saw.. so that's making it interesting!