Another Forex Trading Snack!
The EUR has been trapped inside of a multi year wedge pattern ( indicated by the blue trend lines ) but once it broke out of this pattern it’s bias in my opinion is to the long side. Also recently the DXY index has formed a wedge like shorter term pattern and the exact inverse pattern of the DXY is the gray trend lines indicated on this chart. My idea is buying the dips. My red box is my buy zone as well the bottom of the box is my extreme stop placement. Should orders get filled I would expect the top of the gray pattern line as the first target zone, but secretly wanting a breakout to happen.
As always all the best in your trading.
A EURUSD landscape daily chart
Always remember, Forex Trading is the hardest Easy money you’ll ever make!! Plan your trade, and trade your plan with your individual risk management.
The EUR has been trapped inside of a multi year wedge pattern ( indicated by the blue trend lines ) but once it broke out of this pattern it’s bias in my opinion is to the long side. Also recently the DXY index has formed a wedge like shorter term pattern and the exact inverse pattern of the DXY is the gray trend lines indicated on this chart. My idea is buying the dips. My red box is my buy zone as well the bottom of the box is my extreme stop placement. Should orders get filled I would expect the top of the gray pattern line as the first target zone, but secretly wanting a breakout to happen.
As always all the best in your trading.
Always remember, Forex Trading is the hardest Easy money you’ll ever make!! Plan your trade, and trade your plan with your individual risk management.