EURUSD : Ready for Breakout ( Descending Triangle)
Updated
Hi Guys,
Eurusd is consolidating from day's open itself and the unusual calmness indicates a Storm is coming ? Probably a wild breakout in Eurusd ? We have US (ISM) Manufacturing PMI data in 90 minutes, so markets have a reason to get volatile. These are the times we need to be careful while trading Triangle breakouts, bcos it will give false breakouts. As mentioned in charts stop-placement is vital, so check your plan and then trade.
Note : Last week also we had wild breakout in Eurusd with triangle pattern, attached in related items.
Happy Trading !
Eurusd is consolidating from day's open itself and the unusual calmness indicates a Storm is coming ? Probably a wild breakout in Eurusd ? We have US (ISM) Manufacturing PMI data in 90 minutes, so markets have a reason to get volatile. These are the times we need to be careful while trading Triangle breakouts, bcos it will give false breakouts. As mentioned in charts stop-placement is vital, so check your plan and then trade.
Note : Last week also we had wild breakout in Eurusd with triangle pattern, attached in related items.
Happy Trading !
Trade active
With tight stops... check your plan n trade guys !Note
Target 1 done, stops to breakeven
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