EURUSD You need a break out in order to safely trade this patter
EURUSD crossed today under the short term Channel Up pattern but for now it appears that it will close the day back inside it.
As long as it does, the trend is neutral. It needs a (1d) candle closing over the MA50 (1d) to turn bullish and under the bottom of the Channel Up in order to turn bearish.
Trading Plan:
1. Buy after a (1d) candle closes over the MA50 (1d).
2. Sell after a (1d) candle closes under the Channel Down.
Targets:
1. 1.07700 (Resistance 1, under the MA200 1d).
2. 1.04700 (near Support 1).
Tips:
1. The RSI (1d) is supported by the MA (yellow) line. Crossing under it, could be an early sell signal.
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Notes:
Past trading plan:
As long as it does, the trend is neutral. It needs a (1d) candle closing over the MA50 (1d) to turn bullish and under the bottom of the Channel Up in order to turn bearish.
Trading Plan:
1. Buy after a (1d) candle closes over the MA50 (1d).
2. Sell after a (1d) candle closes under the Channel Down.
Targets:
1. 1.07700 (Resistance 1, under the MA200 1d).
2. 1.04700 (near Support 1).
Tips:
1. The RSI (1d) is supported by the MA (yellow) line. Crossing under it, could be an early sell signal.
Please like, follow and comment!!
Notes:
Past trading plan:
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