EURUSD gives the upward signal. Since it breaks out the green arrow level where the sell action started. After the upward signal, it makes a 3 bottom support giving more confidence to buy. With more and more higher low, EUR is getting closer to recent high. Then enter buy position after the pull back. As the overall picture is a down trend, the take profit placed at a more defensive level.
Now, EURUSD is walking between 1.173 to 1.18 area where just above the previous top support level (orange line). Once it gather enough support and occupied this area, there is a new effective defense level. So, any close above or near the top of the walking box, the second position will be added.
Now, EURUSD is walking between 1.173 to 1.18 area where just above the previous top support level (orange line). Once it gather enough support and occupied this area, there is a new effective defense level. So, any close above or near the top of the walking box, the second position will be added.
Trade closed: stop reached:
It fails to occupy the area but it's good that it even can't break out the top of the walking box. Get stop out without any further adding action.