Hi PlutusX Family,
EURUSD is in an interesting area for price action. There are several potential setups and all around a 33% probability. We must watch for breakouts and retests before building a case for either scenario.
FACTS
Potential Trade Setup
Happy Trading,
PlutusX Team
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ATTENTION
Please like this post if you found it useful. Be sure to ask for our trading script! Where do you think the price is going? Send me your comments and charts below.
EURUSD is in an interesting area for price action. There are several potential setups and all around a 33% probability. We must watch for breakouts and retests before building a case for either scenario.
FACTS
- 1. 1.15266 is a daily pivot point, a previous support, and 23% fib on the previous leg.
- 2. 1.17687 is an 88% fib zone + a major descending resistance trend line.
- 3. 1.14639 is a daily pivot point + 123.6% fib from previous (minor) leg.
- 4. Stoch RSI is still respecting support and showing bullish sentiment.
- 5. Two descending trendlines price is respecting.
- 6. 1.13310 is a daily pivot point
- 7. Daily candle closed as major a Hammer Candle Stick
Potential Trade Setup
- BULLISH: Price break past the immediate descending resistance trend line and breaks past 1.15266 treating it as support with a retest. Target 1.16204.
- BEARISH: Price respects the immediate descending resistance trend line and breaks past 1.14639. Target 1.13310
- SIDEWAYS: Price will continue in the sideways range between 1.15266 and 1.14639.
Happy Trading,
PlutusX Team
--
ATTENTION
Please like this post if you found it useful. Be sure to ask for our trading script! Where do you think the price is going? Send me your comments and charts below.
Trade closed manually
I took profit with 70 pips. I left ~15 on the table. Same as GBPUSD set up, some profit == no profit.
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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.
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.