Descending Channel on EUR/USD @ D1
This descending channel pattern has formed on the daily chart of the EUR/USD pair following a long uptrend. The pattern's borders are marked with the yellow lines. The potential entry level is at the cyan line. The potential take-profit level is at the green line. The stop-loss can be set to the low of the breakout candle (or to the low of the preceding candle if the breakout one is trading mostly outside the channel). Obviously, the SL isn't shown on the chart. I will only take a long trade from this bullish pattern setup.
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