Hello everyone, if you like the idea, do not forget to support with a like and follow.
on DAILY: USDHUF is sitting around strong support in green so we will be looking for buy setups on lower timeframes.
on H4: USDHUF is forming an ascending triangle in red (but it is not valid yet) so we will be waiting for a third swing to form around it to consider it our...
Did you miss triangles, wolves?🔥
There is a symmetrical triangle on USDHUF currency pair.
There was a strong bearish sentiment before and now the price is in consolidation.
So it may be a signal of continuation trend or the price may reverse its own movement.
So follow the chart and look for the breakout carefully.
If you enjoy my FREE Technical Analysis ,...
I can definitely see a break above the support levels seen in past.
with no massive volatility at moment and the recovering USD at the moment.
this trade can can bring some great potential profits in the short term and long term
if we see the brake above TP3!
Price has been trading in this range since early December.
Waiting for confirmation of a price breakout above the triangle before entering (lower risk).
Potential target: ~306.3
Always remember to set stop loss in case price reverses.
In the meantime, some trades can be done within the triangle channel as well. Personally I would enter a small amount once price...
USD / HUF broke out of the upward support level opening the path till 276 HUF / USD support level. I expect the support to hold the price and putting back the price to the middle of the regression channel