EURUSD Potential Long Setup
Updated
Nothing complicated here.
Just waiting to trade the long continuation on the 4H timeframe.
Will need a decent 4H bullish candle close to open a trade here.
Confluences:
1) Respecting ascending trendline (yellow line)
2) 50EMA
3) Immediate minor support (white box)
With the double top in mind (1st top around 30 July), this might still be a risky move.
But I'll open a long trade here if we get a bullish engulfing 4H candle close.
Just waiting to trade the long continuation on the 4H timeframe.
Will need a decent 4H bullish candle close to open a trade here.
Confluences:
1) Respecting ascending trendline (yellow line)
2) 50EMA
3) Immediate minor support (white box)
With the double top in mind (1st top around 30 July), this might still be a risky move.
But I'll open a long trade here if we get a bullish engulfing 4H candle close.
Note
Yup, we got our 4H bullish engulfing.Long trade executed.
SL below the lows.
All the best guys!
Note
Stopped out.Looks like DXY still wants to go up.
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