EURUSD breaking a falling wedge
#EURUSD (1H):
Even though he had an head and shoulder forming on the a lower timeframe, the bigger picture is what i'm focusing on.
This to me is showing that the current price action is actually a correction move, forming a falling wedge, which could be getting ready to explode to the upside, if current support holds.
The reason of my bias is the last weekly candle, which is a strong bullish engulfing.
Still, confirmation is needed
Even though he had an head and shoulder forming on the a lower timeframe, the bigger picture is what i'm focusing on.
This to me is showing that the current price action is actually a correction move, forming a falling wedge, which could be getting ready to explode to the upside, if current support holds.
The reason of my bias is the last weekly candle, which is a strong bullish engulfing.
Still, confirmation is needed
Trade active
The price came back for a retest and formed a strong bullish candle. This confirmed our entry, currently floating at BE
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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.