Double Bottom with engulfing kicker at daily resistance
Hi guys,
here on EURBGP we started our analysis on the daily chart, in there you can see that we are heading downward for a few days without even the tiniest retracement. In RSI we are deep oversold and so we expect some kind of a bigger retracement coming. So we point out the daily resistance level that may provide some support.
Tha black line means this, we are now right at previous resistance and we put a double bottom with rsi divergence and with an engulfing kicker.
That's all i need to enter the market; i'll wait a little retracement then i'm entering long.
I'll let you know how it will evolve.
Best of luck traders!
here on EURBGP we started our analysis on the daily chart, in there you can see that we are heading downward for a few days without even the tiniest retracement. In RSI we are deep oversold and so we expect some kind of a bigger retracement coming. So we point out the daily resistance level that may provide some support.
Tha black line means this, we are now right at previous resistance and we put a double bottom with rsi divergence and with an engulfing kicker.
That's all i need to enter the market; i'll wait a little retracement then i'm entering long.
I'll let you know how it will evolve.
Best of luck traders!
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First target reached for +63! Stop a break even!