EURUSD in this triangle, consolidation, so the best option is to look for cycles to develop and trade it with the W and D trend. For now, waiting for price to take previous high and when it pullback it will be the time to go long, targeting previous D highs.
There seems to be a possible double bottom formation occurring around the 5.35 area.
The first V sectioned of the market shows a reversal upwards and the next V section shows even more upward momentum.
I'm hopefully waiting for it to hit the 5.35 area so I can buy it and go long and I will take another trade straight after the first one takes profit cause of...
Good evening ladies and gents.
Right now on the D chart, I see a retest of the previously broken support line which is now acting as a support line again....this support line has been tested many times but has been broken in recent movement.
Waiting for a buy stop to activate and take profit around the 5.700 region and put the stop loss at around 5.33945
on the 240 time frame there is a wedge pattern an this can possibly break to the downside becasue RSI is showing divergence whilst the market showing a upward moving wedge this can led to the market falling