Hi guys,
Here some analysis on the EUR/USD pair:
We are still in a strong bullish trend and currently a nice correction has been formed lying on a major, historical and daily support. Therefore we might see a bounce from this support (middle black line).
Trade setup:
- Consolidation has been formed right on the major support
- Double bottom (with 2 long wicks) has been formed
- Flag pattern has been formed
- Put a BUY LIMIT order on the breakout of the small consolidation area (which is also the flag pattern breakout)
-Stop loss 5 pips below the lows of the double bottom candles
- Take profit is on the next major resistance line
- Risk reward 2:1
Hope you enjoyed my analysis.
Feel free to leave a comment or a like.
Cheers,
Sebastiano
Here some analysis on the EUR/USD pair:
We are still in a strong bullish trend and currently a nice correction has been formed lying on a major, historical and daily support. Therefore we might see a bounce from this support (middle black line).
Trade setup:
- Consolidation has been formed right on the major support
- Double bottom (with 2 long wicks) has been formed
- Flag pattern has been formed
- Put a BUY LIMIT order on the breakout of the small consolidation area (which is also the flag pattern breakout)
-Stop loss 5 pips below the lows of the double bottom candles
- Take profit is on the next major resistance line
- Risk reward 2:1
Hope you enjoyed my analysis.
Feel free to leave a comment or a like.
Cheers,
Sebastiano
Follow me if you like my analysis.