EURUSD just barely dipped under its trend support (red line) during NY's Thursday session.
As far as I'm concerned, there pair is still bullish at least in the short term while it remains above this trend support but I'm positioning with a sell stop order below the trend support and below the local low just underneath the trend support.
As far as I'm concerned, there pair is still bullish at least in the short term while it remains above this trend support but I'm positioning with a sell stop order below the trend support and below the local low just underneath the trend support.
Note
Looks like the pair is forming a tight small bear flag which is a good indication for the shown set up.Trade active
Trade was entered with that quick drop. My SL is higher than shown now just above the most recent structure high.Note
Only the weekly chart we have a bearish pin bar formed last week which could drive this to a lower TP than shown.
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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.