EURUSD Triangle Play

EurUSd has formed a perfect triangle on the 4hours charts over the last couple of days, clearly marking the 1.3740 resistance level and a series of higher lows. This can turn into a very good risk:reward trade, all we have to do is wait for a break outside the triangle and enter with the trend, either playing it aggressively and opening a position right after the break or waititng for a smal retracement.

EurUSd has formed a perfect triangle on the 4hours charts over the last couple of days, clearly marking the 1.3740 resistance level and a series of higher lows. This can turn into a very good risk:reward trade, all we have to do is wait for a break outside the triangle and enter with the trend, either playing it aggressively and opening a position right after the break or wait for a smal retracement to validate the movement.With tight stops and projected target of 1.39 and 1.40 on the bullish side and 1.35 on the bearish this trade has a great chance of delivering.

 

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