EURUSD Off Of Triple Bottom
Updated
EURUSD is has been trading lower along the supply line these last months. At this point, some demand is expected to enter this market, there is a triple bottom support area around 1.1515 and the overall trend seems to be overextended. There hasn't even been a pullback to 0.382 of the setup bear leg. Long entries around the triple bottom area with stops below 1.1470 and looking for 1.5R-2R targets seems reasonable at this point. Worth a try.
Trade closed: target reached
1.8R target reached. Can potentially reach 2.5R targets the upcoming week. Taking partial profits and modifying stops to cost.Disclaimer
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