EUR/USD hugging 200-SMA on several time frames

EUR/USD glued to weekly Pivot Point (1.1210) as well as to the 200-hour and 200-4H and 200-day SMAs
The RSI(14) warns that momentum has waned with its printing around 50% on these same time frames increasing the risk of breakout either way as we approach the triangle's apex (see chart).
Shorter horizon charts show interplaying of ascending channel within a symmetrical triangle which could morph into an up- or down trending channel on the aforementioned breakout.

My contemption is still that we will drop to the long term support line from the March and April lows, thus clustering buy orders around 1.10 with buy limits at 1.1059, 1.1037, 1.1024, 1.1013, and 1.1004. Open longs situated at 1.1111, 1.1189, 1.1214 are closed now and new longs were opened just above 1.12 and already closed (see chart).
On the sell side, a recent upward retracement activated sell limits now open at at 1.1171, 1.1181, and 1.1223. Limits still to be activated are at 1.1308, 1.1324 and 1.1382. More limits awaiting around 1.1450
Sell stops are to be triggered on a dip to the aforementioned channel at 1.1075 and 1.1059.

The trading methodology reported in this analysis is based on a non-directional approach. It is meant to capture the most amount of pips from the constant price oscillations, either up or down. Each trade has a take profit of 50 pips, a stop loss of 500 pips. The size of each trade is regular, but trades can be stacked around key support and resistance zones, increasing the overall position size around certain price zones. The system can perform either in trending or range bound markets, but it suffers when there is an extreme unidirectional price advance. Buy and sell positions are taken with two separate real accounts.
To learn more about the method, you can watch these special webinar series:

Exploring the Coast Line of Foreign Exchange Land - Part I
Exploring the Coast Line of Foreign Exchange Land - Part II

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