Breakout Pullback Setup in Euro Stoxx 50 Long

Euro Stoxx 50 index of European listed sharesFXCM

Description

⋅ Jan 15, 2014 12:33 AM

Unlike the US indexes, the European indexes continue to find higher ground. Today the Euro Stoxx 50 formed a bullish pin bar on the 4hr chart, climbing for 12 straight hours. The index is currently sitting below key resistance at 3125. Bears wanting to get short have their level here. Bulls can look for a breakout pullback setup above, or a corrective pullback to the trendline around 3090.

Comments

PINK

⋅ Jan 15, 2014 2:44 PM

Hello
Nice Analysis Chris.
Best Regards Ehsan:)

2ndSkiesForex

⋅ Jan 15, 2014 2:45 PM

Hello Ehsan,

Thanks mate. Glad you enjoyed it.

Kind Regards,
Chris

pradafx

⋅ Jan 15, 2014 7:38 AM

Nice Analayiss. We just reached the Key resistance level. Expecting a breakout.

2ndSkiesForex

⋅ Jan 15, 2014 2:15 PM

Yes, just cleared the resistance and pulled back into it (1hr chart) as expected. Already about 15-18 points higher so hopefully you profited from that one.