I see a number of confluent factors to suggest there will be a coming bullish wave. Analysis performed on 4H chart.
1) Strong bearish pinbar rejection of the 1.00 fibo level
2) Following candle closed as a bullish candle
3) Price is currently trading above both the 100 and 200 SMA.
I am targeting just a couple pips below the 1.272 level and the stop loss is a few pips below the lowest point of Tuesday's trading.
1) Strong bearish pinbar rejection of the 1.00 fibo level
2) Following candle closed as a bullish candle
3) Price is currently trading above both the 100 and 200 SMA.
I am targeting just a couple pips below the 1.272 level and the stop loss is a few pips below the lowest point of Tuesday's trading.
