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Eurusdtrendanalysis

EURUSD Trade In-Channel Pattern After The Breakout.EURUSD has given a breakout from its downtrend line, but EURUSD price is still trading near that downtrend line in channel pattern, so the breakout is not so strong to change long term trends. Considering this, we might see a downside in EURUSD towards the support1, as it is crossing down trendline as well, so EURUSD might consolidate at support1, but if it breaks the support1 fresh downside trend can be considered and EURUSD might move towards the support2. If it takes support at support1 and bounces back from that level, resistance will be at resistance1. If You Like Idea Do Follow/Comment/Like for More Updates. Note - Trade With Proper Risk Management System. Thanks
Short
by Fx_Trader_ViSa
3
EURUSD Short Setup (not yet...)You can see that EURUSD respects this daily down trend. I know this trend already tested a few times but I still think there's more to go. This is how i have planned my 1:2 risk to reward trade: First of all; EURUSD just crossed the middle of the trend. We can expect a pullback to the middle support line. If i go short from here, my risk to reward will be 1:1. We can see that stochastic is almost oversold and pointing up. I don't like drawdowns so I'll pass 1:1 trade and wait for the price to hit the resistance. I'm planning to go short once we hit the resistance of this descending trend. Entry: 1.13510 SL: 1.1450 - 100 pips TP: 1.11460 - 205 pips This time I don't have any other profit levels. Only one. Also I'm not planning to trail my stoploss until the price hit to the middle line. I will then move my stoploss a few pips over the most recent swing high and no it's not break-even. As this is a descending trend, levels may change by time. We don't know (we can not) when the price is going to hit to the top. It may not even hit. That's why, I'm going to update this post accordingly. I know 100 pips might look a bit scary but i am good at managing my risk. I'm risking only 2% of my account balance here. Disclaimer: This is not financial advice... Trade safe, Atilla
Short
by AtillaYurtseven