Simple_FX_

EUR/USD: Breakout time to get some pips! (Patience is key)

Short
FX:EURUSD   Euro / U.S. Dollar
Morning all,

Price has broken below the upwards trends line and seems there is a strong signal for a potential short lining up on this pair.

- As you can see from the annotated chart I will be waiting for price to retrace to the old trend line and bounce back down before I enter a short position

- Patience is key here as you dont want to get caught in a fakeout

- The next key S/R levels moving down are 1.11717 and 1.11348 - my exit area would be around 1.11348 but that is pending it breaks through 1.11717

Let me know what you guys thinks, a really easy simple setup that just takes patience and caution to maximise our profits!

Good luck!

Comments

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