EURUSD Descending triangle structure
EURUSD 4H chart is currently forming a descending triangle.
Look to short with good entry point at the high of the triangle (Resistance)
notice that pattern is confirmed with decreasing volume, breakout should see a spike in trading volume.
Trading idea
SL: 1.12500 (just above double top pattern)
TP: 1.10500 (psychological level, also widest distance of pattern)
Good luck!
Look to short with good entry point at the high of the triangle (Resistance)
notice that pattern is confirmed with decreasing volume, breakout should see a spike in trading volume.
Trading idea
SL: 1.12500 (just above double top pattern)
TP: 1.10500 (psychological level, also widest distance of pattern)
Good luck!
Note
Note
The next candle is key, as it carries the US market sentiment.fail to break the resistance might see short term downtrend
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