EUR-USD STRUCTURE ANALYSIS| DECISION RANGE| TRADING PLAN|

12 ago 2020

EURUSD has formed a double top near the new highest resistance, while also forming a horizontal support structure below the strong resistance level.

The area between the two in yellow is a decision range. Breakout either way will be a signal of the further direction, which is shown by the arrows.

The further direction will be so far constrained by the double top level above and by the plethora of the support lines below.

TRADING PLAN:

We are waiting for a confirmed breakout either way, and then go long or short depending on the direction of the breakout+watching the price action.

+by the way, if the breakout goes downwards, one might be able to see the H&S pattern there as an additional confirmation, while the breakout upwards will be a trade following the trend.

Meanwhile, the bravest and the fastest might wanna try playing the channel game, trading the support and resistance of the yellow range flipping the positions until the breakout happens.

Thank you for reading, like and subscribe and have a nice day!

17 ago 2020

Nota

Storming the highs, huh..