On the short term which is the EUR/USD daily chart, you can see that the price is playing very close to the potential breakout trend line. The price had actually nicked over the breakout trend line & is forming a pullback PB. You can see the pullback more clearly in the EUR/USD H4 chart as PBDDaily.
By this moment, the optimal entry for the daily range has been passed; looking at E on the EUR/USD M15 chart. The pullback for the optimal entry occurred a few days ago & optimized entry can be found by looking at the coinciding price action PBM15 on the EUR/USD H1 chart. Also recently the price had surpassed the minor support trend line as seen on the M15 & H1 EUR/USD charts.
As you can see on the EUR/USD M15, the SL which is the stop loss level still holds & that was the second chance entry for the late comers. The target T on the EUR/USD Daily chart may well be an optimistic target since the main resistance trend line on the EUR/USD weekly chart is lower. Happy Forex Trading! All the Best to You!
Disclaimer: Trading in the FOREX market & other forms of investments involves risk. This information should not AT ALL be viewed as investment recommendations. The charts & information provided here are not meant for investment purposes & only serve as technical examples.
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