Hey Traders! 👋 Check out my latest analysis on the EUR/USD pair. We're seeing a classic descending channel pattern here on the 4-hour chart, which has been beautifully playing out for some time. As we've just bounced off the lower trendline, I'm eyeing a potential move towards the upper boundary. If you look closely, there's a strong rejection wick forming, indicating that the bulls are not ready to give up just yet.
The plan? I'm considering a long position with a conservative target at the mid-channel line, and for the more adventurous, the upper trendline could offer a juicy take-profit point. Of course, we need to keep an eye on the price action and be ready to adjust to any surprises the market throws our way. Keep your stops tight and let's catch this wave! 🌊📈
The plan? I'm considering a long position with a conservative target at the mid-channel line, and for the more adventurous, the upper trendline could offer a juicy take-profit point. Of course, we need to keep an eye on the price action and be ready to adjust to any surprises the market throws our way. Keep your stops tight and let's catch this wave! 🌊📈
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going to close half lot now!
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