I've been in this trade @129.82 26th July 13:51 and now the rising trend line has been broken post-Euro inflation rate numbers and a rise in Japanese CPI, it's time to share it.
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If I redraw this as follows, the trend line is not broken, so be very aware of thisNote
Note
Still little progress on this pair, waiting on the trend line to break, notice the weekly pinbar formingNote
We have broken the trend line and are now retesting the support at 129.4, may not get there this week, slow to react. Note
Beautiful, so many great trades this monthNote
Beautiful move down past the first trend line towards the next area of support. The weekly view will be important this week if further Euro weakness is present.A potential target of 126.135 is credible breaking that will send this pair much much lower towards 124 - 122
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This was the main reason I closed Eur / Usd, I'd already hit my profit area and this pair looks to have much more space to fall. Breaking 128.5 would be a lovely move to the downsideTrade closed: target reached
Time to target: 5 weeksProfit: 125 pips
2% risk - 1:2.5 return (5%)
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.