EURUSD - Short - Descending triangle - U shape
Looking at a short in EURUSD, we are sitting in a descending channel, right now it does not look strong enough to look for a clear breakout opportunity but I will keep you guys posted!
- We have formed the start of an inverted U while in a downtrend.
- On the daily, we are trading below the 200 SMA.
- On the 4 hour, we are into the Ichimoku Cloud (This indicates a trend continuation) and about to drop out of it.
- We are in a descending Chanel both long and short term!
- With all the GBP uncertainty around Brexit then I think the Euro will also weaken short term.
* I'm 80% on this trade so take it or feel free to leave it.
* Use your judgment to maybe enter this trade a bit later after watching the setup for a bit just to confirm it a bit more, if we jump out of the Ichimoku Cloud and your not using a SL then I recommend closing out the trade.
- We have formed the start of an inverted U while in a downtrend.
- On the daily, we are trading below the 200 SMA.
- On the 4 hour, we are into the Ichimoku Cloud (This indicates a trend continuation) and about to drop out of it.
- We are in a descending Chanel both long and short term!
- With all the GBP uncertainty around Brexit then I think the Euro will also weaken short term.
* I'm 80% on this trade so take it or feel free to leave it.
* Use your judgment to maybe enter this trade a bit later after watching the setup for a bit just to confirm it a bit more, if we jump out of the Ichimoku Cloud and your not using a SL then I recommend closing out the trade.
Trade closed: target reached