EURUSD Technical Analysis September 12/2018
EURUSD Possible SELL/SHORT Trade Setup: On February 2018 EURUSD topped out, reversed lower and has been pushing lower since. Traders should continue to follow the trend and continue to look for possible signals for any selling opportunities. At the moment EURUSD is currently forming a possible Descending Bearish Triangle Breakout Pattern (Blue) on the 30 minute chart, where if breaks below the pattern, the pair has a strong possibility of extending lower. There is also a 3 Peak Breakout Pattern (Orange) that triggers SELLS at the September 10/2018 low (1.1525), which is also where the Descending Triangle Breakout Pattern (Blue) triggers SELLS. Another Bearish Pattern (Purple) has already triggered SELLS at the XA 0.786% Fib. retracement level and this adds more reason that EURUSD can continue moving lower. Price at the current moment is breaking below a Bearish Flag Breakout Pattern (Black) which can also be another signal that the pair will continue falling and make new lows. If looking to trade EURUSD, conservative traders will need to watch and wait for the break below the blue Bearish Descending Triangle Breakout Pattern (1.1525) September 10 low with Stop Loss at the point D high of the Purple Bearish Pattern. Aggressive traders can SELL on the break below the Bearish Flag Breakout Pattern with stops at the same level of the point D high of the purple bearish pattern or SELL on the break below the September 11/2018 low of the Momentum Price Action Breakout Pattern Level (Turquoise). If EURUSD breaks above the point D of the purple bearish pattern then all bearish scenarios should not be considered.
EURUSD 30 Minute Chart 9.12.2018
Of course, like any strategy/technique, there will be times when the strategy/technique fails so proper money/risk management should always be used on every trade. Hope you enjoyed this article and follow me on Twitter for updates and questions> @AidanFX or chat me on Skype > EWF Aidan Chan
*** Always use proper risk/money management according to your account size ***
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