We've got a very nice symmetrical triangle forming on the EUR/USD daily chart. A symmetrical triangle is a chart pattern characterized by lower highs and higher lows, and is considered a continuation pattern when it exists within an established trend. EUR/USD is clearly in a downtrend on the daily chart, so I'm looking for price to break out below the bottom of triangle and resume its downtrend.
I'm going to place a sell limit order just below 1.2600 to catch a breakout to the downside.
- Short Entry: 1.2595
- Stoploss: 1.2760
Be the first to rate this post
- Currently 0/5 Stars.
- 1
- 2
- 3
- 4
- 5