Greetings Traders this is my analysis for EURUSD and it is long
Detailed Explanation:
A clear upward trend. A series of higher lows and higher highs.
Bullish momentum: At the beginning of March, a strong upward momentum starts.
Consolidation Breakout: The breakout from the "Support Zone" confirmed that the buyers had taken control.
Elliott wave structure: A wave structure is visible, this may be the end of the corrective phase and the beginning of a new impulse wave.
Patterns and Structures
Triangle pattern (bullish continuation): A nice symmetrical triangle after a strong jump, which is a typical trend continuation pattern.
Triangle Breakout: Very strong and clean breakout with confirmation (candles with large bodies).
"NOT RETRACEMENT": There was no deep retracement, indicating strong demand and potential for continued growth.
Entry is most likely right after the breakout from the triangle (~1.1397).
The RR (risk/reward) looks very good — more than 2:1, which is optimal.
📊 Key Levels
🔶 All Time High 2023 (~1,114): breached, now serving as new support.
🔴 SL zone (1.1259): logically placed below previous lows and triangle - good protection.
🟢 Target zone (1.1702): nicely positioned TP, in line with the projection from the breakout zone.
Since a Higher High has already been formed, a short-term consolidation or flag pattern is expected before continuing towards the target.
Detailed Explanation:
A clear upward trend. A series of higher lows and higher highs.
Bullish momentum: At the beginning of March, a strong upward momentum starts.
Consolidation Breakout: The breakout from the "Support Zone" confirmed that the buyers had taken control.
Elliott wave structure: A wave structure is visible, this may be the end of the corrective phase and the beginning of a new impulse wave.
Patterns and Structures
Triangle pattern (bullish continuation): A nice symmetrical triangle after a strong jump, which is a typical trend continuation pattern.
Triangle Breakout: Very strong and clean breakout with confirmation (candles with large bodies).
"NOT RETRACEMENT": There was no deep retracement, indicating strong demand and potential for continued growth.
Entry is most likely right after the breakout from the triangle (~1.1397).
The RR (risk/reward) looks very good — more than 2:1, which is optimal.
📊 Key Levels
🔶 All Time High 2023 (~1,114): breached, now serving as new support.
🔴 SL zone (1.1259): logically placed below previous lows and triangle - good protection.
🟢 Target zone (1.1702): nicely positioned TP, in line with the projection from the breakout zone.
Since a Higher High has already been formed, a short-term consolidation or flag pattern is expected before continuing towards the target.
Trade active
Trade closed: target reached
Well Done! 
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.