EURUSD has been in uptrend for a long long time and if you look at the daily chart for this currency pair it formed a symmetrical triange and the triange is broken in the upward direction with a strong bullish candlestick. So I am entering a long trade in this direction. I have to leave this trade for a long time. Generally I prefer day trading where I enter the trades and then come out of them in a few hours but this time I am entering a trade where I have to wait for a long time. I will post about this trade regularly in the comments section. The following is the EURUSD daily chart that is showing a symmetrical triangle that was broken with a strong bullish candlestick.
EURUSD Symmetrical Triangle:
Above is the EURUSD symmetrical triangle broken with a strong bullish candlestick
Actually for this currency pair I have two long trades. I will close one with small profit and then I will move the stop loss for the second one above the point of entry and leave it for a long time.
I have entered the EURUSD long trades when this currency pair symmetriangle is broken in the upward direction with a strong bullish candlestick. The trade retraced back to the upper line of symmetrical triangle and I am currently in a loss of 90 pips. But still I think this is a good opportunity for a long trade so I am leaving it as it is.
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