Tradeplicity
Long

EURUSD Flag in the Making?

FX:EURUSD   Euro / US-Dollar
91 2 5
Possible flag forming... If so, we will be buying on the dips near lows of the flag for 1.1000/1.11000 price target. We will monitor our stop loss around the 0.618 Fib for about a 1:4 risk reward trade.

-TRADEPLICITY

Set it and forget it, Use no more than 2:1 leverage (1:1 in most cases) and you will be profitable.
I anticipate consolidation which could be a flag side ways consolidation, it can be up and down shake offs like we have had. But from the recent low at the beginning of the year, it is making a a-b-c-d-e corrective wave and I am anticipating wave 4 (consolidating) before a push toward 1.10000
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Whay do you think there will be a flag forming? How do you get to this conclusion?
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