I am looking for taking small trade here, because it's not very often to have method for long and short in play at the same time. Two things can occur now:
a) EURUSD breaks brown line (the top one): This is long for me with initial SL on the blue line. This also corresponds with Fibo. My target will be 1.20 and it will depends how the advance of chart will look like at this point. But even if not taking profit, I'll definitely fix BE here.
b) EURUSD breaks blue line: This is time for short ( from my point of view). SL 8 pips above top brown line. TP at the bottom brown line.
Both times I'll look at 15 min candle for guidance for break, but I'll be also careful with them (something like waiting for aprox. 10 mins. after the close of breaking candle).
Any criticism is welcomed.
a) EURUSD breaks brown line (the top one): This is long for me with initial SL on the blue line. This also corresponds with Fibo. My target will be 1.20 and it will depends how the advance of chart will look like at this point. But even if not taking profit, I'll definitely fix BE here.
b) EURUSD breaks blue line: This is time for short ( from my point of view). SL 8 pips above top brown line. TP at the bottom brown line.
Both times I'll look at 15 min candle for guidance for break, but I'll be also careful with them (something like waiting for aprox. 10 mins. after the close of breaking candle).
Any criticism is welcomed.