Had a really good entry with this pair today, risking 4% and getting a 30% account growth. Earlier We had a H&S on the 4 hour time frame which indicated a short term sell.
However when looking at the bigger picture it is still climbing to the upside. If the pair respects this trend we may have a new trend channel as shown towards the upside. Time will tell, I...
We have seen this pair trending to the down side for a while, it has now hit a major support level @ .93759
If it wants to continue this trend we have a very good long opportunity, as I caught this pair in time I am now running risk free as my SL is at the support level which is also my break even.
Will be interesting to see where this goes.
Thoughts and ideas welcome
Earlier today we saw a MASSIVE breakout, demand seems to be drying out so I have entered short, stating my 3 TP levels, a big pull back may happen but I will be monitoring this closely over the next day or so.
Thoughts / Comments / Feedback welcome
Looks to me like EURUSD will be on a big downtrend, it has peaked at 1.09940 (it has not been at this point since May 1st), I expect it to hit some resistance / rejection before coming down. Opinions on this would be appreciated as I am fairly new.