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Textbook Breakout Pullback Setup Profits Heavy on EUSTX 50 | Jan 15th
Euro Stoxx 50 – Pullback Goes Right To Level, Then Launches Higher
Yesterday the breakout pullback setup on the Euro Stoxx 50 worked to perfection. We suggested going long on a breakout pullback above 3125. As you can see in the chart below, the pair did exactly that, breaking above the key resistance, then pulling right back to the level before launching higher. Savvy price action traders profited heavily on this one, so hopefully you did the same as the European index is now up +50 points from the level.
Bias is still bullish above this key level. Those not already long can look for corrective pullbacks into the level. A more aggressive entry around 3138 would be an alternative option.
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