Eurusd broke a huge bullflag and its now holding the 1.
1.12 lvl of support
It is likely to form this bearish bat or even goes higher
But before entering any trade, I will personally wait for the price to gap up this sunday night (london timezone) in order to confirm my plan or if there is no gap, will wait for price to break the first level of resistance becoming support in lower TF (chart just below)
The stochastic bullish divergence give more confidence on this setup.
Respect money management
It is likely to form this bearish bat or even goes higher
But before entering any trade, I will personally wait for the price to gap up this sunday night (london timezone) in order to confirm my plan or if there is no gap, will wait for price to break the first level of resistance becoming support in lower TF (chart just below)
The stochastic bullish divergence give more confidence on this setup.
Respect money management
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Dxy also looks bullish so i'm a little confused but we will see what happen on the first hours of the next week (normally these first hours are the precursor move for the week)
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In terms of price action we can see that the last green bullish candle was a bullish engulfing amd now price pullback to it. And its also the 0.786 fib
So i will long
Good luck if you countertrade me ;)
So i will long
Good luck if you countertrade me ;)
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I will win ;)
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There is a combination of support:
-pullback to the body of the bullish engulfing
-0.786 fib
- trendline of the bullflag
-psychological level of support : 1.12
-pullback to the body of the bullish engulfing
-0.786 fib
- trendline of the bullflag
-psychological level of support : 1.12
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Automatical 1:2 hit
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Of course , if price gap down this plan is to reconsider