EURUSD In channel trade, Long for 1-2 days duration
Updated
EURUSD is currently in a longer timeframe channel looking for a reversal bounce up.
Based on micro-support lines and cross-analysis, my bias is for a long trade on EURUSD for the next 2 days. The trade will last over the weekend and close Monday night preferably.
Cut losses at the support from the latest low, marked as the horizontal green line at 1.11689 or 1.11629
Take profits at a new or old resistance; look for any bounces back down from any lines or crosses.
Based on micro-support lines and cross-analysis, my bias is for a long trade on EURUSD for the next 2 days. The trade will last over the weekend and close Monday night preferably.
Cut losses at the support from the latest low, marked as the horizontal green line at 1.11689 or 1.11629
Take profits at a new or old resistance; look for any bounces back down from any lines or crosses.
Trade active
Support broken but it was only a fakeout. Bounce up still occurred near the end of trading week. Stop-loss was not broken, Position remains open.Trade active
Comment
Dependent on your risk tolerance, you may have exited the trade now. I keep it open.Comment
Market is at current bottoms right now. Enter at will.Comment
I am adding position b/c a weekly triple bottom pattern that has not been broken. If the 1.11628 is broken as far as 1.11567, we should short.
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