Tuesday 1 November 2011

One of my favourite, Tight Pattern on EUR/USD

EUR/USD Hourly

This is one of my favorite pattern, a simple one yet so powerful..

Missed the first one, it happen too early, i wasn't expecting it, happen in tokyo session..

I kept watching this pair, since there still doubt about how euro will handle their debt issue,

Price started to consolidate, a descending triangle (lower high) right at strong support,
enter break fractal, sell at 1.3965...

Then price consolidate again, another tight pattern, sell again  at 1.3809 (break down fractal at support)

Closed all position at 1.3700, total profit 265 + 109 = +374 pips, my biggest profit so far in a single trade..

At the moment price stall at 4 hour support area around 1.3650, a BDB, price rejection around support, but looks like it's gonna break for further down move

EUR/USD 4 Hour



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