Possible Start of a Big EURUSD Move to The Upside

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. EURUSD

Trade stängt manuellt:

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.

Kommentera:

TURNS OUT I WAS RIGHT