I'm just analyzing this pair now....but it looks good for a long at market price...I will update this (after my morning coffee)
ok...I'm back:
Analysis:
1. 4 touch TL break of lower highs
2. MACD Divergence
3. Nice Double Bottom
4. Resistance (now support) at 1.0510 has been broken
5. 1-2-3 pattern set-up
6. Rounded Bottom PP shaping up also
There is no reason why we shouldn't be able to get a 1:1.5 R/R out of this trade.
Risk:
Aggressive: SL Below 1.0445 Conservative: Below 1.0390
Target: TP1 1.0753 TP2 1.0874 or Trail SL
Entry:
I entered at my 1st lot at market around 1.0570. I will add another lot if I get a retrace to support at 1.0515
ok...I'm back:
Analysis:
1. 4 touch TL break of lower highs
2. MACD Divergence
3. Nice Double Bottom
4. Resistance (now support) at 1.0510 has been broken
5. 1-2-3 pattern set-up
6. Rounded Bottom PP shaping up also
There is no reason why we shouldn't be able to get a 1:1.5 R/R out of this trade.
Risk:
Aggressive: SL Below 1.0445 Conservative: Below 1.0390
Target: TP1 1.0753 TP2 1.0874 or Trail SL
Entry:
I entered at my 1st lot at market around 1.0570. I will add another lot if I get a retrace to support at 1.0515