EURUSD - Trend-Trading in a Consolidation - with mtfa
Hi Traders!
Let's begin the multiple timeframe analysis.
We'll start with the Weekly and end with the hourly.
The weekly Chart:
Here we can see the purple descending Trendline coming all the way down from above.
The price just broke the Trendline bullish and even retested it successfully.
So, we're looking for an Up-Movement towards the next Resistance.
The daily Chart:
Here you can see that the market is moving in a consolidation range after a strong
Up-Movement.
The Fakeout you can see here is actually the Retest of the Trendline.
The price is moving between the Levels 1.20 and 1.17.
So, we're looking to have a target in between those "extreme" Levels.
The H4-Chart:
Here you can see that the market is moving in an ascending wedge.
The next Resistance and our target is also in between the "extreme" Levels.
So, we're looking to enter somewhere inside the wedge.
The H1-Chart:
Here you can identify a descending Parallel Channel.
The Trading Idea is to buy the Break of the blue dotted line with the Parallel Channel.
The Target is - as seen before - at the next Resistance and the SL is under the Low.
We recommend to wait for a Retest.
Thanks and successful Trading :)!
Let's begin the multiple timeframe analysis.
We'll start with the Weekly and end with the hourly.
The weekly Chart:
Here we can see the purple descending Trendline coming all the way down from above.
The price just broke the Trendline bullish and even retested it successfully.
So, we're looking for an Up-Movement towards the next Resistance.
The daily Chart:
Here you can see that the market is moving in a consolidation range after a strong
Up-Movement.
The Fakeout you can see here is actually the Retest of the Trendline.
The price is moving between the Levels 1.20 and 1.17.
So, we're looking to have a target in between those "extreme" Levels.
The H4-Chart:
Here you can see that the market is moving in an ascending wedge.
The next Resistance and our target is also in between the "extreme" Levels.
So, we're looking to enter somewhere inside the wedge.
The H1-Chart:
Here you can identify a descending Parallel Channel.
The Trading Idea is to buy the Break of the blue dotted line with the Parallel Channel.
The Target is - as seen before - at the next Resistance and the SL is under the Low.
We recommend to wait for a Retest.
Thanks and successful Trading :)!
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