This idea came from trying to make sense of all the "noise" this pair has
produced within the rising channel.
What I like about this set up is A = C and it is contained within
the channel like corrective price is commonly found.
Selling the top of the channel is my thought for the best
point of entry and, even though this is a line chart, I'll be
watching the candlesticks for guidance.
Several options for stops and I've listed two possibles.
The line in the sand is around resistance @ 1.3580
Much above that and the Euro is headed higher.
Of course, the 800 pound Gorilla in all of this is the NFP
on Friday. Entry or re entry might have to wait until afterwards
so that spikes won't dump on a profitable trade.
produced within the rising channel.
What I like about this set up is A = C and it is contained within
the channel like corrective price is commonly found.
Selling the top of the channel is my thought for the best
point of entry and, even though this is a line chart, I'll be
watching the candlesticks for guidance.
Several options for stops and I've listed two possibles.
The line in the sand is around resistance @ 1.3580
Much above that and the Euro is headed higher.
Of course, the 800 pound Gorilla in all of this is the NFP
on Friday. Entry or re entry might have to wait until afterwards
so that spikes won't dump on a profitable trade.