Sell EUR/USD Triangle Breakout
Updated
The EUR/USD pair on the M30 timeframe presents a potential shorting opportunity due to a recent breakout from a triangle pattern.
Entry: Consider entering a short position (selling) below the broken support trendline of the triangle after confirmation. Ideally, this would be around 1.0770 or lower if the price continues to decline.
Target Levels:
1.0704: This represents the height of the triangle, measured from its apex (highest or lowest point) to the breakout point, projected downwards from the breakout point.
1.0680: This is a further extension of the downside target, based on the height of the recent price movement before the breakout.
Stop-Loss: Once the entry point is confirmed, place a stop-loss order above the broken support line of the triangle, ideally with some buffer around 1.0800. This helps limit potential losses if the price unexpectedly reverses and breaks back upwards.
Thank you.
Entry: Consider entering a short position (selling) below the broken support trendline of the triangle after confirmation. Ideally, this would be around 1.0770 or lower if the price continues to decline.
Target Levels:
1.0704: This represents the height of the triangle, measured from its apex (highest or lowest point) to the breakout point, projected downwards from the breakout point.
1.0680: This is a further extension of the downside target, based on the height of the recent price movement before the breakout.
Stop-Loss: Once the entry point is confirmed, place a stop-loss order above the broken support line of the triangle, ideally with some buffer around 1.0800. This helps limit potential losses if the price unexpectedly reverses and breaks back upwards.
Thank you.
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