Interesting juncture...
Not trading or financial advice!
If you are long EUR/USD, there is an amazing asymmetrical (3/1) trade setup using a multi-decade trendline as support. If one were to set a stop below the support line and a corresponding target associated to the falling wedge, or previous lower high, there is a risk reward proposition certainly worth considering.
Conversely, if one were bearish, as trend continuation and long term MA would indicate, one could also construct an asymmetrical trade opportunity on the short side should price break below long term support.
This is truly a unique chart, should price break either to the bull or the bearish side, there are opportunities to use patterns and risk management to construct asymmetrical risk reward opportunities.
If you are long EUR/USD, there is an amazing asymmetrical (3/1) trade setup using a multi-decade trendline as support. If one were to set a stop below the support line and a corresponding target associated to the falling wedge, or previous lower high, there is a risk reward proposition certainly worth considering.
Conversely, if one were bearish, as trend continuation and long term MA would indicate, one could also construct an asymmetrical trade opportunity on the short side should price break below long term support.
This is truly a unique chart, should price break either to the bull or the bearish side, there are opportunities to use patterns and risk management to construct asymmetrical risk reward opportunities.
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