mpanav

Possible move higher

Long
FX:EURUSD   Euro / U.S. Dollar
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0
It is a bit of risky trade but I like long side because the price has reached 2 support line. One is the upper side of donw trend channel after it broke it upward and now the price has come back to retest it. The second line is the support of recent uptrend ( although this recent up trend is i bit steep).
The only thing that concernen me and make this trade a bit risky was the power of last correctionfrom high which creat a straight one let down.

entry @ 1.23170
Stop @ 1.2298 (well below the support line of channel and 200MA
TP: @1.2380 (retest of the high)

Good Luck!
Trade closed: stop reached: Stopped out

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