Stop loss - @1.12530
Take profit - @1.1350
Entry - @1.9.9.1.x.x.x.1.3.0.4
This is a pretty straight forward trade but straightforward hasn't really been the strong suit of prices lately due to inflation but fundamentals support this trade so we'll see.
Reason for this trade
1. Strong fundamentals.
2. Strong confluences (trendline, H4 support).
3. The action price is currently taking in M15 is kind of a rejection of the trendline.
4. Inverse head and shoulders pattern forming, it's remaining the last shoulder which should take price to our target.
All I'm waiting for now is a "W" pattern and divergence in M15 and hopefully in H1 as well !.
Take profit - @1.1350
Entry - @1.9.9.1.x.x.x.1.3.0.4
This is a pretty straight forward trade but straightforward hasn't really been the strong suit of prices lately due to inflation but fundamentals support this trade so we'll see.
Reason for this trade
1. Strong fundamentals.
2. Strong confluences (trendline, H4 support).
3. The action price is currently taking in M15 is kind of a rejection of the trendline.
4. Inverse head and shoulders pattern forming, it's remaining the last shoulder which should take price to our target.
All I'm waiting for now is a "W" pattern and divergence in M15 and hopefully in H1 as well !.