Tactical Funnel Trading (EURUSD)

As euro is capitulating we are positioning for another short term rally contrary to the overall trend.

Here using a funnel between 1.11250 and 1.12400 range.

If the funnel is broken from the downside we are looking into further capitulation and trade being cancelled.

Otherwise we are positioning for a breakout trade around 1.11620 mark.

Please note that if the projections don't pan out as illustrated the trade should be discarded regardless.

Trade safe, trade well