LDForex_
Long

EURUSD- Long Opportunity On The Reversal of Ascending Triangle!!

FX:EURUSD   Euro / U.S. Dollar
-Very decent long opportunity on the reversal on top of the ascending triangle .
-There is a confluence as the resistance of the triangle is in line with my supple zone.
-Another confluence is that the supply zone is in line with my 23.6 fib level which could indicate that price could potentially reversal from that zone.
-An extra confluence is the EMA as it is below price which indicates medium term bullish trend for this pair.
-I will wait until price reaches the significant level and look for strong bullish confirmation to enter the trade.
Trade closed: target reached: This was an excellent trade with a risk to reward ratio of 1:5 and placed the trade on the 1 hour.
Always keep a level head when price hits profit targets and don't get overconfident as it will lead to greed and effect your psychology.

Comments

top work clean and simple love it
+2 Reply
LDForex_ Ambitious-FX
@Ambitious-FX, 100% agree with that, simple and clean charts are the way forward!
+1 Reply
Wicktator LDForex_
@LDForex_, Definitely!
+1 Reply
Very nicely done!
+1 Reply
LDForex_ Wicktator
@Wicktator, Thank you!
+1 Reply
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