As euro is capitulating we are positioning for another short term rally contrary to the overall trend.
Here using a funnel between 1.11250 and 1.12400 range.
If the funnel is broken from the downside we are looking into further capitulation and trade being cancelled.
Otherwise we are positioning for a breakout trade around 1.11620 mark.
Please note that if the projections don't pan out as illustrated the trade should be discarded regardless.
Trade safe, trade well
Here using a funnel between 1.11250 and 1.12400 range.
If the funnel is broken from the downside we are looking into further capitulation and trade being cancelled.
Otherwise we are positioning for a breakout trade around 1.11620 mark.
Please note that if the projections don't pan out as illustrated the trade should be discarded regardless.
Trade safe, trade well
Note
Trade cancelledNote
Support was broken trade was cancelled
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.
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.