Hello Traders, I’m Mani and I’m the writer of Trade 77 section, please follow me on twitter for further updates.
I mentioned a daily trendline plus daily 200 simple moving average 5 days ago and price nicely behaved to those support levels and is going to the north now.
We have got a possible daily triangle setup and which show price would reach around 1.3320:
In the four hour chart we can see that upper bond of the triangle and 200sma shows 1.3320 together and this will add more power to this resistant zone:
So if you went long for the daily trendline play then you should close your positions at around 1.3310 and at that level I will look for a possible bounce and after a four hour bearish candle we should go short.
Any breaks of that triangle setup would be an indication of an explosion so breakout traders watch it carefully for a possible setup.
Make sure that you are following me on twitter so you can be informed of any trade calls for this pair and if you found this post useful let your followers to read it too, so please retweet this article with the button above of the article.
Latest posts by admin (see all)
- Money Management in Forex: More Than Just Trading - February 17, 2018
- Identifying Trends through Synchronization - February 17, 2018
- Using Multiple Trendlines to Identify Better Trades - February 15, 2018
Winner’s Edge Trading, as seen on: