Whist not a A+++ setup I would appreciate some feedback on my interpretation on the below chart.
TDI cross + bar colour change within 2 bars
RSI above 50
5 EMA broken
Seems to have broken 0.8100 which looks to me as the most significant resistence
TDI is a little high and would be trading against the direction of the the longer term MAs, though looking at the candle stick chart they seem bullish along with the higher lows. Actually the more I think about it the better it sounds.
Thanks for all the...
This pair looks still be in a down trend - certainly the week is still showing a down trend.
From the day perspective, the next resistance will be the Fractal at 8151, and then around the 8220 area, so this may be good for a few pips - don't expect high pips from this set up unless it breaks and holds past the Fractal. May be worth moving to BE as soon as you get some clearance on the entry price.