Hi Traders! EURUSD triangle pattern breakout provides sell opportunity for us. A detailed analysis of this potential sell setup is as follows:
EURUSD H4 Chart:
On the H4 chart the price which was moving inside a triangle pattern has broken below the bottom of this pattern. After the breakout, currently it looks like the price is retesting the breakout zone of this triangle pattern. We also have a hidden bearish divergence that is forming at the moment, which we may consider as an evidence of bearish pressure. Hence as long as the breakout zone is holding, we may look for sells with bearish evidences.
Note: It is always recommended to look for confirmations before you jump into any trade. If you are not sure about how to trade this sell setup then you can use any setup and strategy that you have in your arsenal to look for bearish moves and join this sell trade.Advertisement
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