Long

Very good long on EURUSD

Updated

A very nice opportunity EURUSD on 1,750, it is trading now around a support level, on the 5 min chart it dropped below this support line but with a small H&S it climbed up very fast again. Now on the 5 min chart it's making a bullish flag, so it's an easy trade to make because you can use a short stop on this one,

entry on 1,750
Stop on 1,720 (or 1,7350)
target around 1,850

Note

Looking good, first confirmation of the short term uptrend is near, the real confirmation we need is above 1,1780

Note

After waiting patiently the confirmation finally came above the 1,1780, but it dropped again just as fast, it is still at a good level now, but i rather had seen it stayed above 1,170.
However it is possible that it will drop to the support line around 1,1730, if it does i will add some more to my long position! The stop has to be flexible now, use the support line with a margin of at least 0,001 below that support line!

Good Luck

Note

Were are almost there now, I am lowering the target to the resistance line. I see it going even much higher but its better to close this trade and wait for a new opportunity

Note

Target in reach, it broke out of the consolidation and continues the the uptrend. You could close the position with a perfect profit, because its close to the resistence line, but i am going to put my stop at 1,1810 now, because i think there is a big chance it will break the resistance line. SO a trailing stop is a good option for now.

If wont break the resistance, it will be a good time to go short because than it will look up the support line again
Good luck

botje11

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