XAGEUR short idea

-34 week continuation decending triangle
-Possible 5 week horizontal range launching pattern (boundaries are not well defined)

-Looking to put 40 basis points of risk initially, an additional 40 if conditions are favourable

Comment:

-Two separate sell orders in at different levels for 80 basis points of risk
-Today's price was responsive to narrow range resistance and a 30 EMA
-On the cusp of a breakout

Comment:

I don't trade using Bollinger Bands but I like overlaying them over a potential setup to see what they can tell me about price. I love whats called "the squeeze" when the outer bands contract to the point a violent price will usually conclude. At technical chart junctures, these can lead to some explosive setups.

For one of the best explanations I have read in a while on Bollinger Bands, check out this article from #tradeciety
twitter.com/Tra...046032156913664?s=19

Trade active:

Short 40 basis points

Trade closed: stop reached:

Should have been more wary of the pinbar day