A move down from a supportive trendline's break looks like it's running out of steam. I will enter long with the idea that I may have to re-enter at previous lows to bring down the BE. PT is a 50% target of prior swings. This also correlates with other USD pairs showing possible countertrend swings.
EURUSD is breaking an area of multiple resistance trendlines, and you can draw up many in the red area. It can make for a quick scalp upward, but I'm waiting for the top and selling. I can jump in lightly and add more heavily in the next levels, as I have drawn up on my chart. Plenty of levels and a larger trendline are waiting up top, where the price might be...
Just re uploading my idea on EN in hopes to clarify. Price shot up high, then dropped. It went up again, then dropped again, and now going up a third time. Each of the highs gives a chance to enter the trade. Profit target stays the same no matter which entry I would have used, so whether on the first, second, or this third move up, I still think of it as the same...
The price has extended past previous highs, and though I missed the first entry, it's at a point where it is okay to enter now. I will prepare to enter with the idea of adding to the trade if it continues to rise and pull the BE up. I'm targeting a 50% retracement PT.
