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I took a few short term shorts off the resistance line yesterday, nothing major but enough to keep me interested. I'll be more cautious today as the tail end of the consolidation pattern is always the most volatile. Today I am bullish above 1.2750 and bearish below 2750 (e.g. looking for shorting opps).
As always CP users can check multiple pairs/timeframes for intraday candlestick signals and you should watch out for news events on the forex calendar.
Trading Idea: Looking for shorting opportunities on confirmation below 2750.
Primary trade will be a short from 1.2730 with candlestick confirmation, short targets at 1.2705, 1.2675, 1.2645 and 1.2615 for 115 pips profit.
Aggressive short would be on a sustained break of 1.2630 to the downside and an aggressive long is a sustained break above 2750 (though be weary of a false breakout short squeeze here).
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Source: Forex Signals - EUR/USD Triangle Consolidation Pattern
Forex signals from: PipHut.com
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