Hello guys !
I've tried to do it as simple and clear as possible, so even begginers can understand it !
( Check the signature in the end of this idea for more trading ideas guys )
So, a nice pattern is formed, as USD looks to gain some strenght lately after the last reports.
We had a break on the ascending channel,with a strong triple top, and re-test on the new resistance line.
The support area for the last 2 months looks pretty solid to me, and in just 22 days, the pair tried to break it unsuccessfully fot 3 times.
After the third attempt, we can now se another ascending channel forming.
Our initial target will only be 37 pips, but, once we are a couple pips away from our first target, we will set our SL to entry level, and change our target, to the 75 pips area.
This decision is only because obviously we like to keep our trades secure, and the pair might not break the triple top area.
We can have here two scenario:
In case it fails to break it, our trade will be set to entry level, so no loss here.
And in case it breaks it, we will then set our target to the 160 pips area, because there is a good chance that the triple top area could become the new support to this rising USD pair.
Feel free to share your opinion with us, and don't forget to FOLLOW US so you don't miss a trade !
Check the link below
I've tried to do it as simple and clear as possible, so even begginers can understand it !
( Check the signature in the end of this idea for more trading ideas guys )
So, a nice pattern is formed, as USD looks to gain some strenght lately after the last reports.
We had a break on the ascending channel,with a strong triple top, and re-test on the new resistance line.
The support area for the last 2 months looks pretty solid to me, and in just 22 days, the pair tried to break it unsuccessfully fot 3 times.
After the third attempt, we can now se another ascending channel forming.
Our initial target will only be 37 pips, but, once we are a couple pips away from our first target, we will set our SL to entry level, and change our target, to the 75 pips area.
This decision is only because obviously we like to keep our trades secure, and the pair might not break the triple top area.
We can have here two scenario:
In case it fails to break it, our trade will be set to entry level, so no loss here.
And in case it breaks it, we will then set our target to the 160 pips area, because there is a good chance that the triple top area could become the new support to this rising USD pair.
Feel free to share your opinion with us, and don't forget to FOLLOW US so you don't miss a trade !
Check the link below
