Trade Idea + Full Explanation on EURUSD by ThinkingAntsOk
Use this as an idea to develop you own setup
Main items we see on the 4hs chart:
a)Price has broken a descending channel
b)Currently we can see a Bullish Corrective Structure (Flag Pattern)
c)Flag patterns are considered continuation structures
d)The corrective structure is an intresting setup because of the support zone + pullback to the broken descending channel
e)On the chart we have set our Entry / Take Profit / Stop and Break Even, we recomend to use this zones as a guide, you will have more accurancy if you define this parameters on a lower timeframe such as 60min or 30 min
Daily Chart:
Weekly Chart:
Main items we see on the 4hs chart:
a)Price has broken a descending channel
b)Currently we can see a Bullish Corrective Structure (Flag Pattern)
c)Flag patterns are considered continuation structures
d)The corrective structure is an intresting setup because of the support zone + pullback to the broken descending channel
e)On the chart we have set our Entry / Take Profit / Stop and Break Even, we recomend to use this zones as a guide, you will have more accurancy if you define this parameters on a lower timeframe such as 60min or 30 min
Daily Chart:
Weekly Chart: