Triangle Setup on EURUSD

Post is written by Henry

Looking at the current 4H chart of the EURUSD pair there is a triangle forming which happens to be a very obvious one. We are still in the phase of uncertainty right now as price is making a big consolidation move like this.

If you are one of those position traders who like to hold your trade for days or even weeks, the best possible move is to wait for further price movement. Let the price itself show you the way.

If you got a possible setup to jump into the market consider get in on the long side if price is closed above the current high and enter the market on the short side if price is closed below the previous low with some target at around previous highs or lows or at around support and resistances level.

But if you like to do scalp trades then you might have the opportunity to enter the current market by looking at around support and resistances area.

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