EURUSD 1D DESCENDING CHANNEL
Price is at channel top.
Trade Options.
Option 1 - Price breakout channel top - wait for daily close above channel top.
Option 2 - Price bounce off channel top - Enter short on candle close below 38.2 fib - TP channel bottom.
Option 3 - Price at channel bottom, A price bounce bullish, B price breaks below channel bottom.
Short trade - Wait for daily close below channel bottom.
Long trade - Wait for bullish candle close off of bullish bounce of channel bottom.
Where would you put your SL and TP on this chart?
Trade Options.
Option 1 - Price breakout channel top - wait for daily close above channel top.
Option 2 - Price bounce off channel top - Enter short on candle close below 38.2 fib - TP channel bottom.
Option 3 - Price at channel bottom, A price bounce bullish, B price breaks below channel bottom.
Short trade - Wait for daily close below channel bottom.
Long trade - Wait for bullish candle close off of bullish bounce of channel bottom.
Where would you put your SL and TP on this chart?
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