EURUSD Break of Multi Trendline Area, Looking for Retracement.

19 Ağu 2024

EURUSD is breaking an area of multiple resistance trendlines, and you can draw up many in the red area. It can make for a quick scalp upward, but I'm waiting for the top and selling. I can jump in lightly and add more heavily in the next levels, as I have drawn up on my chart. Plenty of levels and a larger trendline are waiting up top, where the price might be heading upward before turning its trend back down.

26 Ağu 2024

Not

Trade management is key as an exit strategy for this trade. Options depending on context in the next few days will determine what happens. The first option is to break even. The price is still expected to come back down, but I might want to exit at break even if it looks weak. If the price continues to rise into the second level, I may add to the position and work through the trade from there.