Eurusd : Ascending triangle ready for breakout !
Updated
Usually people use elliott's to predict direction of breakout, but that also fails sometimes. Lets stick to simple things, so on the breakout direction we can initiate positions in EURUSD with proper stops. Be quick to reverse if false breakout happens even after valid close below/above trendlines.
The beauty of triangles are they give big moves and they recover losses in false breakout in the other direction if proper trade techniques are employed.
Note : The measurement of triangle targets was mistake, it got extended while using mouse, As I don't want to edit chart after posting,Please redraw that correctly n fix your targets.
Happy Trading !
The beauty of triangles are they give big moves and they recover losses in false breakout in the other direction if proper trade techniques are employed.
Note : The measurement of triangle targets was mistake, it got extended while using mouse, As I don't want to edit chart after posting,Please redraw that correctly n fix your targets.
Happy Trading !
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