Technical Review of EURUSD. This is a new chart template. It's nothing more than just Bollinger band of value 50 using median prices.
Right now we are on downtrend, as it's staying on the lower portion. However I hold a bullish view on this pair. NO positions are opened yet but if a long position is opened we should aim the 50% level which is the first Take profit level.
When do we open a long trade?
I would like to see some bullish price action or when price starts to enter to the positive (upper half) of the Bollinger bands.
I have set alerts when either the top/bottom horizontal lines are broken.
If the support line of weekly bullish engulfing pattern is broken, this long view is invalidated. It's all in the hands of the central banks.
Regards,
spearman
Right now we are on downtrend, as it's staying on the lower portion. However I hold a bullish view on this pair. NO positions are opened yet but if a long position is opened we should aim the 50% level which is the first Take profit level.
When do we open a long trade?
I would like to see some bullish price action or when price starts to enter to the positive (upper half) of the Bollinger bands.
I have set alerts when either the top/bottom horizontal lines are broken.
If the support line of weekly bullish engulfing pattern is broken, this long view is invalidated. It's all in the hands of the central banks.
Regards,
spearman