I am considering going long.
There is a very nice pin bar bouncing off a confluence of 61.8 fib ret, 365ema, 150ema, and a major PPZ on the monthly chart.
I have then zoomed into the weekly and there as well is a pin bar bouncing off confluence which IMO helping with making a smaller stop.
ok we are not on swing highlow...maybe we will be their within a couple of years lol..this is the monthly chart.
There is a strong barrier the price must pass though before going long. I have highlighted another major PPZ which is forming above the pin bar. I won't enter long until it breaks that area. If it do breaks it, high chance it will act as support and we are safe (thank you jim and mike).
I have made a several pics for doing it clearer...hope it's ok.
Now help me find reasons why NOT taking that trade! http://forums.babypips.com/images/smilies/wink.gif
Ben
There is a very nice pin bar bouncing off a confluence of 61.8 fib ret, 365ema, 150ema, and a major PPZ on the monthly chart.
I have then zoomed into the weekly and there as well is a pin bar bouncing off confluence which IMO helping with making a smaller stop.
ok we are not on swing highlow...maybe we will be their within a couple of years lol..this is the monthly chart.
There is a strong barrier the price must pass though before going long. I have highlighted another major PPZ which is forming above the pin bar. I won't enter long until it breaks that area. If it do breaks it, high chance it will act as support and we are safe (thank you jim and mike).
I have made a several pics for doing it clearer...hope it's ok.
Now help me find reasons why NOT taking that trade! http://forums.babypips.com/images/smilies/wink.gif
Ben