Possible buy position for EURUSD. This one is purely price action analysis with no indicators. Price previously broke out of my parallel trend line channel to the downside but I believe this was a false break out and price has hit the trend line support which is moving upwards. Price has also recently bounced off of a local horizontal support zone which leads to a long bias. I have placed a stop loss of 60 pips which is just below the point of invalidation for the trade and a take profit of around 180 pips which makes for a good RISK:REWARD ratio. Keep an eye out for updates. FX:EURUSD
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I didn't like the way this was moving, and was not too sure about my idea of going up, so I closed the trade in profit.