EU is consolidating forming a flag pattern after the big move followed by the rejection at the key support zone.
While at the same time it is now constantly getting rejected at the H&S neckline.
I have the marked the trade idea as a "Buy Signal" because the pair is still absorbing the supply with good momentum.
However, I would be trading in whichever direction the price breaks out.
The Rectangle box can be used for Breakout and SL.
TPs marked on the chart.
Here is how the daily chart looks:
Please do let me know your thoughts.
While at the same time it is now constantly getting rejected at the H&S neckline.
I have the marked the trade idea as a "Buy Signal" because the pair is still absorbing the supply with good momentum.
However, I would be trading in whichever direction the price breaks out.
The Rectangle box can be used for Breakout and SL.
TPs marked on the chart.
Here is how the daily chart looks:
Please do let me know your thoughts.